Waldencast (NASDAQ:WALD) Trading Down 4.1%

Waldencast plc (NASDAQ:WALD) shares fell 4.1% during trading on Wednesday . The stock traded as low as $5.14 and last traded at $5.14. 1,109 shares changed hands during trading, a decline of 98% from the average session volume of 69,398 shares. The stock had previously closed at $5.36.

Analyst Ratings Changes

Separately, Telsey Advisory Group cut their target price on Waldencast from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd.

Waldencast Price Performance

The firm has a 50-day moving average of $6.62 and a 200-day moving average of $8.29.

Institutional Investors Weigh In On Waldencast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Waldencast by 440.0% during the 2nd quarter. Barclays PLC now owns 4,093 shares of the company’s stock valued at $31,000 after acquiring an additional 3,335 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Waldencast during the 3rd quarter valued at about $151,000. Bank of New York Mellon Corp grew its position in shares of Waldencast by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock valued at $814,000 after acquiring an additional 36,642 shares during the period. Amalgamated Bank grew its position in shares of Waldencast by 68.1% during the 3rd quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock valued at $31,000 after acquiring an additional 1,328 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Waldencast during the 3rd quarter valued at about $97,000. 41.97% of the stock is owned by institutional investors and hedge funds.

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.