Waldencast (NASDAQ:WALD) Rating Reiterated by Telsey Advisory Group

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued on Tuesday, Benzinga reports. They currently have a $8.00 price objective on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 168.46% from the stock’s current price.

Separately, DA Davidson dropped their price objective on Waldencast from $15.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, May 28th.

Waldencast Price Performance

NASDAQ:WALD opened at $2.98 on Tuesday. Waldencast has a one year low of $2.40 and a one year high of $12.00. The business has a fifty day moving average price of $3.35 and a 200-day moving average price of $4.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.71.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in shares of Waldencast in 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. Cubist Systematic Strategies LLC acquired a new position in Waldencast during the 2nd quarter valued at about $85,000. Norden Group LLC acquired a new stake in Waldencast in the first quarter worth about $92,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Waldencast during the first quarter worth about $142,000. 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.