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

Telsey Advisory Group reaffirmed their outperform rating on shares of Waldencast (NASDAQ:WALD) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $6.00 price objective on the stock.

Separately, DA Davidson upped their price objective on Waldencast from $6.50 to $7.25 and gave the company a buy rating in a research report on Wednesday, September 4th.

Waldencast Price Performance

Shares of WALD opened at $3.32 on Wednesday. The firm has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $4.14. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in Waldencast in the 2nd quarter worth $37,000. Catalina Capital Group LLC bought a new position in shares of Waldencast in the first quarter worth about $73,000. Norden Group LLC purchased a new position in shares of Waldencast during the 1st quarter valued at about $92,000. Bleakley Financial Group LLC bought a new position in shares of Waldencast during the 1st quarter valued at approximately $142,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Waldencast in the 2nd quarter worth approximately $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.