Waldencast (NASDAQ:WALD) Shares Down 4.1%

Waldencast plc (NASDAQ:WALD)’s share price was down 4.1% during trading on Wednesday . The stock traded as low as $5.14 and last traded at $5.14. Approximately 1,109 shares traded hands during trading, a decline of 98% from the average daily volume of 69,398 shares. The stock had previously closed at $5.36.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group dropped their price objective 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 Stock Performance

The business has a 50-day moving average of $6.52 and a two-hundred day moving average of $8.25.

Institutional Investors Weigh In On Waldencast

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its position in Waldencast by 68.1% during 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 in the last quarter. Barclays PLC boosted its holdings in Waldencast by 440.0% in the second quarter. Barclays PLC now owns 4,093 shares of the company’s stock worth $31,000 after acquiring an additional 3,335 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Waldencast in the third quarter worth about $97,000. Norden Group LLC acquired a new stake in Waldencast in the first quarter worth about $92,000. Finally, SG Americas Securities LLC acquired a new stake in Waldencast in the third quarter worth about $151,000. Institutional investors own 41.97% of the company’s stock.

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.