Telsey Advisory Group Issues Pessimistic Forecast for Waldencast (NASDAQ:WALD) Stock Price

Waldencast (NASDAQ:WALD) had its price objective reduced by investment analysts at Telsey Advisory Group from $3.00 to $2.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 28.70% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group started coverage on shares of Waldencast in a research note on Wednesday, January 14th. They issued a “buy” rating and a $2.00 price objective on the stock. Canaccord Genuity Group cut their target price on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Waldencast presently has an average rating of “Moderate Buy” and a consensus price target of $3.92.

Waldencast Price Performance

WALD stock traded down $0.03 during midday trading on Monday, hitting $1.55. 32,112 shares of the stock were exchanged, compared to its average volume of 63,155. The stock’s 50-day moving average price is $1.68 and its 200-day moving average price is $1.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53. Waldencast has a fifty-two week low of $1.41 and a fifty-two week high of $3.51.

Waldencast (NASDAQ:WALD) last posted its earnings results on Monday, November 24th. The company reported ($0.69) earnings per share for the quarter. The business had revenue of $66.14 million during the quarter. As a group, research analysts forecast that Waldencast will post -0.14 EPS for the current fiscal year.

Institutional Trading of Waldencast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Waldencast by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after purchasing an additional 6,516 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Waldencast by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 47,484 shares of the company’s stock worth $89,000 after buying an additional 15,014 shares in the last quarter. Deutsche Bank AG raised its position in shares of Waldencast by 264.2% in the fourth quarter. Deutsche Bank AG now owns 43,205 shares of the company’s stock valued at $81,000 after buying an additional 31,341 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Waldencast during the third quarter valued at approximately $78,000. Finally, Jane Street Group LLC purchased a new position in shares of Waldencast during the first quarter valued at approximately $77,000. Hedge funds and other 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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.