Telsey Advisory Group Reaffirms Outperform Rating for Waldencast (NASDAQ:WALD)

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 81.27% from the company’s previous close.

Several other analysts have also issued reports on WALD. TD Cowen assumed coverage on shares of Waldencast in a research report on Monday, December 16th. They set a “hold” rating and a $4.30 price target on the stock. DA Davidson boosted their price objective on shares of Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.76.

Waldencast Stock Performance

NASDAQ:WALD opened at $3.31 on Wednesday. Waldencast has a twelve month low of $2.41 and a twelve month high of $7.54. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $3.24 and its two-hundred day moving average price is $3.47.

Institutional Trading of Waldencast

A number of institutional investors have recently bought and sold shares of WALD. Amitell Capital Pte Ltd bought a new stake in Waldencast in the 4th quarter valued at about $780,000. JPMorgan Chase & Co. boosted its holdings in Waldencast by 116.3% in the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock valued at $376,000 after purchasing an additional 50,311 shares during the period. Barclays PLC boosted its holdings in Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after purchasing an additional 24,355 shares during the period. XTX Topco Ltd bought a new stake in Waldencast in the 4th quarter valued at about $70,000. Finally, Ethic Inc. bought a new stake in Waldencast in the 4th quarter valued at about $56,000. Institutional investors own 41.97% of the company’s stock.

Waldencast Company Profile

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.