Waldencast (NASDAQ:WALD) Stock Price Down 3.9%

Waldencast plc (NASDAQ:WALD)’s stock price traded down 3.9% during mid-day trading on Thursday . The stock traded as low as $5.39 and last traded at $5.39. 498 shares changed hands during trading, a decline of 99% from the average session volume of 67,966 shares. The stock had previously closed at $5.61.

Analyst Upgrades and Downgrades

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

Waldencast Stock Performance

The company has a 50-day simple moving average of $6.68 and a 200-day simple moving average of $8.36.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Waldencast in the third quarter valued at approximately $28,000. Amalgamated Bank boosted its holdings in shares of Waldencast by 68.1% in the third quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock valued at $31,000 after purchasing an additional 1,328 shares during the period. UBS Group AG boosted its holdings in shares of Waldencast by 295.8% in the first quarter. UBS Group AG now owns 3,297 shares of the company’s stock valued at $33,000 after purchasing an additional 2,464 shares during the period. Barclays PLC boosted its holdings in shares of Waldencast by 440.0% in the second quarter. Barclays PLC now owns 4,093 shares of the company’s stock valued at $31,000 after purchasing an additional 3,335 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Waldencast in the first quarter valued at approximately $43,000. 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.