Waldencast (NASDAQ:WALD) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Waldencast (NASDAQ:WALD) in a research report report published on Monday morning,Benzinga reports. They currently have a $6.00 price target on the stock.

Several other equities research analysts have also issued reports on WALD. DA Davidson raised their price target on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity Group started coverage on Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Canaccord Genuity Group started coverage on Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price target on the stock.

Waldencast Stock Performance

NASDAQ WALD opened at $3.23 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. Waldencast has a 52-week low of $2.40 and a 52-week high of $12.00. The company has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $3.67.

Institutional Investors Weigh In On Waldencast

Several institutional investors have recently made changes to their positions in WALD. Renaissance Technologies LLC bought a new stake in shares of Waldencast during the 2nd quarter valued at $239,000. Milestones Administradora de Recursos Ltda. increased its position in shares of Waldencast by 10.0% during the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after buying an additional 200,000 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Waldencast by 75.2% in the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares in the last quarter. McAdam LLC bought a new position in shares of Waldencast in the third quarter valued at approximately $62,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Waldencast during the second quarter valued at approximately $85,000. Hedge funds and other 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.