Telsey Advisory Group Issues Pessimistic Forecast for Waldencast (NASDAQ:WALD) Stock Price

Waldencast (NASDAQ:WALD) had its price objective lowered by stock analysts at Telsey Advisory Group from $5.00 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 89.57% from the company’s previous close.

Several other equities analysts also recently weighed in on WALD. DA Davidson reiterated 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 issued a “buy” rating and a $5.00 price objective on the stock. Finally, Industrial Alliance Securities set a $5.00 target price on shares of Waldencast in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Waldencast Stock Performance

Shares of WALD opened at $2.11 on Thursday. Waldencast has a one year low of $2.02 and a one year high of $5.21. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $2.79 and a two-hundred day moving average of $3.18.

Institutional Investors Weigh In On Waldencast

Several hedge funds have recently bought and sold shares of WALD. Nuveen LLC acquired a new position in shares of Waldencast in the 1st quarter valued at $128,000. Simplicity Wealth LLC purchased a new position in Waldencast in the first quarter valued at $360,000. Rhumbline Advisers increased its holdings in Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after buying an additional 8,151 shares in the last quarter. Stonebrook Private Inc. acquired a new position in shares of Waldencast in the fourth quarter worth about $48,000. Finally, Ethic Inc. purchased a new stake in shares of Waldencast during the 4th quarter worth about $56,000. 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.