Waldencast (NASDAQ:WALD) Shares Gap Up to $4.85

Waldencast plc (NASDAQ:WALD) gapped up prior to trading on Thursday . The stock had previously closed at $4.85, but opened at $5.11. Waldencast shares last traded at $4.78, with a volume of 3,566 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group decreased their price objective on Waldencast from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st.

Waldencast Stock Down 1.4 %

The stock has a fifty day moving average price of $6.18 and a 200 day moving average price of $8.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Waldencast by 75.3% during the 3rd quarter. Barclays PLC now owns 7,177 shares of the company’s stock valued at $67,000 after acquiring an additional 3,084 shares during the last quarter. SG Americas Securities LLC raised its stake in Waldencast by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 19,705 shares of the company’s stock valued at $216,000 after buying an additional 3,716 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Waldencast by 44.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,226 shares of the company’s stock valued at $178,000 after purchasing an additional 4,992 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Waldencast in the third quarter valued at $97,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Waldencast by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock valued at $814,000 after purchasing an additional 36,642 shares during the period. 41.97% of the stock is currently owned by institutional investors and hedge funds.

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.