Waldencast (NASDAQ:WALD) Receives Outperform Rating from Telsey Advisory Group

Waldencast (NASDAQ:WALD - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $6.00 target price on the stock. Telsey Advisory Group's price objective points to a potential upside of 92.31% from the company's current price.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group increased their target price on Waldencast from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. DA Davidson increased their price objective on Waldencast from $7.25 to $7.50 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, TD Cowen initiated coverage on shares of Waldencast in a research note on Monday, December 16th. They set a "hold" rating and a $4.30 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.76.

Waldencast Price Performance

WALD stock opened at $3.12 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78. Waldencast has a 1 year low of $2.41 and a 1 year high of $7.54. The firm has a 50-day moving average of $3.29 and a 200 day moving average of $3.47.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company's stock worth $117,000 after buying an additional 24,355 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Waldencast in the fourth quarter worth approximately $42,000. JPMorgan Chase & Co. raised its holdings in shares of Waldencast by 52.0% during the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company's stock valued at $157,000 after purchasing an additional 14,803 shares during the last quarter. Catalina Capital Group LLC lifted its position in Waldencast by 69.9% during the fourth quarter. Catalina Capital Group LLC now owns 27,102 shares of the company's stock valued at $109,000 after purchasing an additional 11,154 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Waldencast by 29.9% in the fourth 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 during the last quarter. 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.

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