Waldencast (NASDAQ:WALD) Stock Rating Reaffirmed by Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Waldencast (NASDAQ:WALD) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $8.00 price target on the stock.

Separately, DA Davidson cut their target price on Waldencast from $15.50 to $6.50 and set a buy rating on the stock in a research note on Tuesday, May 28th.

Waldencast Price Performance

Shares of NASDAQ:WALD opened at $3.06 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Waldencast has a 12-month low of $2.40 and a 12-month high of $12.00. The business’s fifty day simple moving average is $3.35 and its 200-day simple moving average is $4.98.

Hedge Funds Weigh In On Waldencast

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Waldencast by 44.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,226 shares of the company’s stock valued at $178,000 after purchasing an additional 4,992 shares during the last quarter. Marshall Wace LLP purchased a new position in Waldencast during the 2nd quarter worth $37,000. Catalina Capital Group LLC acquired a new position in Waldencast during the 1st quarter valued at about $73,000. Norden Group LLC purchased a new stake in Waldencast in the first quarter valued at about $92,000. Finally, Bleakley Financial Group LLC purchased a new stake in Waldencast in the first quarter valued at about $142,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

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.