Waldencast’s (WALD) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a report issued on Wednesday, Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s target price points to a potential upside of 80.72% from the company’s current price.

Separately, DA Davidson lifted their price target on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Waldencast Price Performance

Shares of NASDAQ:WALD opened at $3.32 on Wednesday. The firm has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $4.16. 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 52 week low of $2.40 and a 52 week high of $12.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WALD. Zeno Equity Partners LLP bought a new position in Waldencast in the fourth quarter worth about $224,278,000. Bleakley Financial Group LLC purchased a new position in shares of Waldencast in the 1st quarter worth approximately $142,000. Norden Group LLC bought a new position in shares of Waldencast during the 1st quarter worth approximately $92,000. Catalina Capital Group LLC purchased a new stake in Waldencast during the first quarter valued at approximately $73,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Waldencast in the second quarter valued at approximately $85,000. 41.97% of the stock is currently owned by institutional investors.

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.