Waldencast (NASDAQ:WALD) Shares Gap Down to $4.91

Waldencast plc (NASDAQ:WALD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $4.91, but opened at $4.70. Waldencast shares last traded at $4.70, with a volume of 8,096 shares changing hands.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price objective on shares of Waldencast in a research report on Tuesday.

Waldencast Stock Down 9.8 %

The firm has a 50-day moving average price of $5.73 and a 200-day moving average price of $7.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.71 and a quick ratio of 0.82.

Hedge Funds Weigh In On Waldencast

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Waldencast by 73.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock worth $814,000 after buying an additional 36,642 shares during the last quarter. Barclays PLC grew its stake 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 purchasing an additional 3,084 shares during the period. Amalgamated Bank grew its stake in shares of Waldencast by 68.1% during the 3rd quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock valued at $31,000 after purchasing an additional 1,328 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of Waldencast during the 3rd quarter valued at about $97,000. Finally, SG Americas Securities LLC grew its stake in shares of Waldencast by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 19,705 shares of the company’s stock valued at $216,000 after purchasing an additional 3,716 shares during the period. Hedge funds and other 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.