Telsey Advisory Group Reaffirms “Outperform” Rating for Waldencast (NASDAQ:WALD)

Telsey Advisory Group reaffirmed their outperform rating on shares of Waldencast (NASDAQ:WALD) in a report released on Wednesday morning, Benzinga reports. Telsey Advisory Group currently has a $6.00 target price on the stock.

Separately, DA Davidson raised their target price 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.

Waldencast Stock Performance

Shares of Waldencast stock opened at $3.32 on Wednesday. The business has a 50 day moving average of $3.40 and a 200 day moving average of $4.14. Waldencast has a 52 week low of $2.40 and a 52 week high of $12.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WALD. Marshall Wace LLP purchased a new stake in Waldencast in the second quarter worth $37,000. Catalina Capital Group LLC bought a new position in shares of Waldencast in the 1st quarter worth about $73,000. Norden Group LLC purchased a new position in Waldencast during the 1st quarter valued at about $92,000. Bleakley Financial Group LLC bought a new stake in Waldencast during the first quarter worth about $142,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Waldencast in the second quarter worth about $85,000. 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.