Waldencast (NASDAQ:WALD) Shares Down 4.9%

Shares of Waldencast plc (NASDAQ:WALD) fell 4.9% on Thursday . The stock traded as low as $4.05 and last traded at $4.10. 22,148 shares changed hands during trading, a decline of 85% from the average session volume of 144,652 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

WALD has been the subject of a number of recent research reports. DA Davidson upped their target price on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Telsey Advisory Group lowered their target price on Waldencast from $8.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 29th.

Waldencast Stock Performance

The firm has a fifty day simple moving average of $3.23 and a 200-day simple moving average of $4.58. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of Waldencast in the second quarter valued at approximately $85,000. Marshall Wace LLP bought a new position in shares of Waldencast in the second quarter valued at approximately $37,000. Renaissance Technologies LLC bought a new position in shares of Waldencast in the second quarter valued at approximately $239,000. Bleakley Financial Group LLC bought a new position in shares of Waldencast in the first quarter valued at approximately $142,000. Finally, Catalina Capital Group LLC bought a new position in shares of Waldencast in the first quarter valued at approximately $73,000. 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.