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

Waldencast (NASDAQ:WALD) had its target price lowered by stock analysts at Telsey Advisory Group from $5.00 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 66.67% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. DA Davidson reaffirmed a “buy” rating and set 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 research note on Tuesday, April 22nd. They issued a “buy” rating and a $5.00 target price for the company. Finally, Industrial Alliance Securities set a $5.00 target price on shares of Waldencast in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Waldencast has a consensus rating of “Moderate Buy” and an average price target of $5.26.

Waldencast Stock Down 20.8%

Waldencast stock opened at $2.40 on Thursday. The stock has a 50 day moving average of $2.83 and a two-hundred day moving average of $3.21. Waldencast has a twelve month low of $2.12 and a twelve month 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.

Institutional Investors Weigh In On Waldencast

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Waldencast by 301.4% in the third quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after purchasing an additional 24,355 shares during the period. JPMorgan Chase & Co. increased its holdings 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Waldencast during the 4th quarter valued at approximately $42,000. Catalina Capital Group LLC boosted its stake in shares of Waldencast by 69.9% during the 4th quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after acquiring an additional 11,154 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Waldencast by 16.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,895 shares of the company’s stock worth $261,000 after acquiring an additional 9,130 shares in the last quarter. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

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.