Waldencast (NASDAQ:WALD) Price Target Lowered to $3.00 at Telsey Advisory Group

Key Points

• Telsey Advisory Group has reduced its price target for Waldencast (NASDAQ: WALD) from $4.00 to $3.00, while maintaining an "outperform" rating, suggesting a potential upside of 71.43% from the previous close.
• Waldencast's stock is currently trading at $1.75, down 2.8%, with a 52-week low of $1.60 and a high of $4.73.
• Institutional investors hold approximately 41.97% of Waldencast's stock, with several recent acquisitions by hedge funds and investment firms.

Waldencast (NASDAQ:WALD - Get Free Report) had its price objective dropped by stock analysts at Telsey Advisory Group from $4.00 to $3.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 71.43% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Industrial Alliance Securities set a $5.00 price objective on shares of Waldencast in a report on Tuesday, April 22nd. Canaccord Genuity Group dropped their price objective on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Wall Street Zen downgraded shares of Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.97.

Waldencast Stock Down 2.8%

Shares of NASDAQ WALD opened at $1.75 on Wednesday. The company's 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.35. Waldencast has a fifty-two week low of $1.60 and a fifty-two week high of $4.7399.

Institutional Trading of Waldencast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. bought a new stake in shares of Waldencast during the 2nd quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Waldencast in the 2nd quarter worth about $26,000. Stonebrook Private Inc. acquired a new stake in Waldencast in the 4th quarter worth about $48,000. Ethic Inc. acquired a new stake in Waldencast in the 4th quarter worth about $56,000. Finally, Wells Fargo & Company MN raised its stake in Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock worth $59,000 after purchasing an additional 3,358 shares in the last quarter. Institutional investors own 41.97% of the company's stock.

About Waldencast

Waldencast plc operates in the beauty and wellness business. The company engages in developing, acquiring, accelerating, and scaling various brands. It provides cosmetic, over-the-counter, and prescription products under the Obagi Medical, Obagi Clinical, and Obagi Professional brands; and a Skintrinsiq device for use in facial treatments that is used by physicians' offices, spas, and aestheticians.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.