Waldencast (NASDAQ:WALD) Price Target Cut to $2.00 by Analysts at Telsey Advisory Group

Waldencast (NASDAQ:WALD) had its target price lowered by equities research analysts at Telsey Advisory Group from $3.00 to $2.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 28.70% from the company’s previous close.

WALD has been the subject of several other reports. Jefferies Financial Group started coverage on Waldencast in a report on Wednesday, January 14th. They set a “buy” rating and a $2.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group reduced their target price on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.92.

Waldencast Stock Performance

Shares of NASDAQ WALD traded down $0.03 during midday trading on Monday, reaching $1.55. 32,112 shares of the company were exchanged, compared to its average volume of 63,155. Waldencast has a 1 year low of $1.41 and a 1 year high of $3.51. The stock has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.69) EPS for the quarter. The business had revenue of $66.14 million during the quarter. As a group, research analysts expect that Waldencast will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Waldencast

Institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Waldencast in the second quarter worth $26,000. Invesco Ltd. purchased a new position in shares of Waldencast in the 2nd quarter valued at about $26,000. CIBC Asset Management Inc acquired a new stake in shares of Waldencast in the fourth quarter valued at about $46,000. Covestor Ltd lifted its stake in shares of Waldencast by 98,716.0% in the third quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after purchasing an additional 24,679 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Waldencast by 57.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock worth $57,000 after buying an additional 8,485 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. 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.