Telsey Advisory Group Reiterates Outperform Rating for Waldencast (NASDAQ:WALD)

Telsey Advisory Group reiterated their outperform rating on shares of Waldencast (NASDAQ:WALD) in a research report released on Tuesday morning, Benzinga reports. They currently have a $8.00 price objective on the stock.

Waldencast Trading Up 2.7 %

Shares of WALD stock opened at $4.18 on Tuesday. Waldencast has a fifty-two week low of $3.71 and a fifty-two week high of $12.00. The stock’s fifty day moving average price is $5.58 and its two-hundred day moving average price is $7.65. The company has a quick ratio of 0.82, a current ratio of 1.71 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Waldencast by 75.3% during the 3rd quarter. Barclays PLC now owns 7,177 shares of the company’s stock valued at $67,000 after purchasing an additional 3,084 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Waldencast by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 19,705 shares of the company’s stock valued at $216,000 after acquiring an additional 3,716 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Waldencast by 44.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,226 shares of the company’s stock valued at $178,000 after acquiring an additional 4,992 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Waldencast during the 3rd quarter worth $97,000. Finally, Bank of New York Mellon Corp increased its holdings in Waldencast by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock worth $814,000 after purchasing an additional 36,642 shares in the last quarter. 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.