Waldencast (NASDAQ:WALD) Shares Down 4.1%

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

Wall Street Analyst Weigh In

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

Waldencast Price Performance

The business has a 50-day simple moving average of $6.52 and a 200-day simple moving average of $8.25.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently bought and sold shares of the stock. Zeno Equity Partners LLP acquired a new stake in Waldencast in the 4th quarter valued at about $224,278,000. Dynamo Internacional Gestao DE Recursos LTDA. raised its position in shares of Waldencast by 4.6% during the 3rd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 15,332,933 shares of the company’s stock worth $144,436,000 after acquiring an additional 674,600 shares in the last quarter. Truxt Investmentos Ltda. raised its position in shares of Waldencast by 3.7% during the 4th quarter. Truxt Investmentos Ltda. now owns 4,075,479 shares of the company’s stock worth $44,586,000 after acquiring an additional 144,841 shares in the last quarter. Bank of New York Mellon Corp raised 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 worth $814,000 after acquiring an additional 36,642 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in shares of Waldencast during the 1st quarter worth about $142,000. Institutional investors and hedge funds 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.