Waldencast (NASDAQ:WALD) Given New $2.00 Price Target at Telsey Advisory Group

Waldencast (NASDAQ:WALD) had its price target lowered by Telsey Advisory Group from $3.00 to $2.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other brokerages also recently issued reports on WALD. Canaccord Genuity Group cut their price objective on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Monday. Jefferies Financial Group initiated coverage on Waldencast in a research report on Wednesday, January 14th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.92.

Waldencast Stock Performance

NASDAQ WALD opened at $1.57 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53. The firm has a 50-day moving average of $1.68 and a 200-day moving average of $1.87. Waldencast has a 52-week low of $1.41 and a 52-week high of $3.51.

Waldencast (NASDAQ:WALD) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.69) EPS for the quarter. The company had revenue of $66.14 million for the quarter. On average, research analysts forecast that Waldencast will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Waldencast

Several hedge funds and other institutional investors have recently bought and sold shares of WALD. Milestones Administradora de Recursos Ltda. boosted its holdings in Waldencast by 10.3% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock valued at $4,803,000 after purchasing an additional 225,677 shares during the period. Stoic Point Capital Management LLC bought a new position in shares of Waldencast during the fourth quarter worth approximately $2,628,000. UBS Group AG raised its position in shares of Waldencast by 466.2% in the third quarter. UBS Group AG now owns 838,536 shares of the company’s stock valued at $1,660,000 after buying an additional 690,441 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Waldencast by 62.2% in the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after buying an additional 224,905 shares in the last quarter. Finally, Beartown Capital Management LLC bought a new stake in shares of Waldencast in the fourth quarter valued at approximately $564,000. Institutional investors and hedge funds 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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.