Waldencast (NASDAQ:WALD) Sees Strong Trading Volume

Waldencast plc (NASDAQ:WALD – Get Rating) saw unusually-strong trading volume on Tuesday . Approximately 19,194 shares were traded during mid-day trading, an increase of 209% from the previous session’s volume of 6,204 shares.The stock last traded at $9.20 and had previously closed at $9.00.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Waldencast in a report on Thursday, March 9th.

Waldencast Price Performance

The stock has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $8.96.

Institutional Investors Weigh In On Waldencast

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC boosted its stake in shares of Waldencast by 4.2% during the 2nd quarter. Citadel Advisors LLC now owns 1,821,698 shares of the company’s stock worth $17,943,000 after acquiring an additional 72,975 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Waldencast during the 2nd quarter worth approximately $5,597,000. Susquehanna International Group LLP purchased a new stake in shares of Waldencast during the 1st quarter worth approximately $2,909,000. Woodline Partners LP boosted its stake in shares of Waldencast by 39.3% during the 1st quarter. Woodline Partners LP now owns 194,072 shares of the company’s stock worth $1,923,000 after acquiring an additional 54,774 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Waldencast during the 2nd quarter worth approximately $353,000. Hedge funds and other institutional investors own 18.80% of the company’s stock.

Waldencast Company Profile

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Waldencast plc, a skincare company, develops, markets, and sells skin health products worldwide. The company offers approximately 200 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.