Telsey Advisory Group Lowers Waldencast (NASDAQ:WALD) Price Target to $4.00

Waldencast (NASDAQ:WALD) had its target price reduced by Telsey Advisory Group from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target suggests a potential upside of 89.57% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. DA Davidson restated a “buy” rating and issued a $7.50 price target on shares of Waldencast in a report on Wednesday, March 19th. Alliance Global Partners started coverage on shares of Waldencast in a report on Tuesday, April 22nd. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Industrial Alliance Securities set a $5.00 target price on Waldencast in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Waldencast Stock Performance

Shares of Waldencast stock opened at $2.11 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The stock’s fifty day moving average price is $2.79 and its 200-day moving average price is $3.18. Waldencast has a 12 month low of $2.02 and a 12 month high of $5.21.

Institutional Investors Weigh In On Waldencast

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Waldencast by 15.1% during the 4th quarter. Barclays PLC now owns 37,342 shares of the company’s stock valued at $150,000 after purchasing an additional 4,906 shares during the last quarter. SG Americas Securities LLC acquired a new position in Waldencast during the 4th quarter valued at about $42,000. JPMorgan Chase & Co. raised its stake in Waldencast by 52.0% in the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock valued at $157,000 after buying an additional 14,803 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after acquiring an additional 3,358 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Waldencast during the fourth quarter worth about $70,000. Hedge funds and other 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.