Waldencast (NASDAQ:WALD) Shares Gap Down to $5.52

Waldencast plc (NASDAQ:WALD)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $5.52, but opened at $5.23. Waldencast shares last traded at $5.31, with a volume of 5,359 shares traded.

Wall Street Analysts Forecast Growth

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

Waldencast Trading Down 3.3 %

The company has a fifty day moving average price of $6.65 and a 200 day moving average price of $8.32.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake 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 buying an additional 3,335 shares in the last quarter. Amalgamated Bank grew its stake in shares of Waldencast by 68.1% in the third quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock worth $31,000 after acquiring an additional 1,328 shares during the last quarter. Norden Group LLC bought a new stake in Waldencast during the 1st quarter valued at about $92,000. State Board of Administration of Florida Retirement System purchased a new position in Waldencast in the 3rd quarter worth approximately $97,000. Finally, SG Americas Securities LLC bought a new position in shares of Waldencast during the third quarter valued at $151,000. 41.97% 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.