Waldencast (NASDAQ:WALD) Earns “Outperform” Rating from Telsey Advisory Group

by · The Markets Daily

Waldencast (NASDAQ:WALD – Get Free Report)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a report released on Monday,Benzinga reports. They currently have a $6.00 price target on the stock. Telsey Advisory Group’s target price suggests a potential upside of 85.76% from the company’s previous close.

A number of other research analysts have also recently weighed in on WALD. Canaccord Genuity Group assumed coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price target on the stock. DA Davidson upped their price target on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Canaccord Genuity Group started coverage on Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 price objective on the stock.

Get Our Latest Report on WALD

Waldencast Stock Up 0.3 %

NASDAQ:WALD traded up $0.01 on Monday, hitting $3.23. 35,457 shares of the stock were exchanged, compared to its average volume of 130,907. The stock has a fifty day moving average of $3.65 and a 200-day moving average of $3.69. 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 fifty-two week low of $2.40 and a fifty-two week high of $12.00.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Milestones Administradora de Recursos Ltda. grew its stake 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 acquiring an additional 200,000 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in Waldencast by 416.2% in the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after purchasing an additional 62,148 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Waldencast during the 2nd quarter worth approximately $239,000. Barclays PLC raised its position in shares of Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after purchasing an additional 24,355 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Waldencast by 75.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after buying an additional 11,288 shares during the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Company Profile

(Get Free Report)

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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