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

Shares of Waldencast plc (NASDAQ:WALD) 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.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group dropped their price target on Waldencast from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd.

Waldencast Trading Down 1.1 %

The stock has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $8.27.

Institutional Investors Weigh In On Waldencast

A number of institutional investors and hedge funds have recently modified their holdings of WALD. Barclays PLC lifted its holdings in shares of Waldencast by 440.0% during the second quarter. Barclays PLC now owns 4,093 shares of the company’s stock worth $31,000 after purchasing an additional 3,335 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Waldencast during the third quarter worth about $151,000. Bank of New York Mellon Corp lifted its holdings in shares of Waldencast by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock worth $814,000 after purchasing an additional 36,642 shares during the period. Amalgamated Bank lifted its holdings in shares of Waldencast by 68.1% during the third quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock worth $31,000 after purchasing an additional 1,328 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Waldencast during the third quarter worth about $97,000. 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.