Waldencast (NASDAQ:WALD) Trading Down 3.2%

Shares of Waldencast plc (NASDAQ:WALD) dropped 3.2% on Wednesday . The stock traded as low as $8.90 and last traded at $9.00. Approximately 10,920 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 64,988 shares. The stock had previously closed at $9.30.

Analyst Upgrades and Downgrades

Separately, Raymond James cut shares of Waldencast from an “outperform” rating to a “market perform” rating in a research report on Monday, July 24th.

Waldencast Stock Down 0.3 %

The business’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $8.22.

Institutional Trading of Waldencast

A number of institutional investors have recently bought and sold shares of WALD. BlackRock Inc. bought a new stake in shares of Waldencast in the 2nd quarter worth about $5,492,000. Dynamo Internacional Gestao DE Recursos LTDA. raised its holdings in shares of Waldencast by 4.6% in the third quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 15,332,933 shares of the company’s stock worth $144,436,000 after buying an additional 674,600 shares during the period. JPMorgan Chase & Co. purchased a new position in Waldencast during the 2nd quarter valued at $5,597,000. Susquehanna International Group LLP bought a new position in shares of Waldencast in the first quarter worth about $2,909,000. Finally, State Street Corp bought a new stake in Waldencast during the 2nd quarter valued at about $1,763,000. 19.93% of the stock is currently owned by institutional investors.

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.