Waldencast (NASDAQ:WALD) Stock Price Down 4.1%

Shares of Waldencast plc (NASDAQ:WALD - Get Free Report) were down 4.1% during mid-day trading on Wednesday . The stock traded as low as $5.14 and last traded at $5.14. Approximately 1,109 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 69,398 shares. The stock had previously closed at $5.36.

Analysts Set New Price Targets

Separately, Telsey Advisory Group dropped their target price on shares of Waldencast from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, March 22nd.

Waldencast Price Performance

The company's fifty day moving average is $6.57 and its 200-day moving average is $8.27.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zeno Equity Partners LLP purchased a new position in shares of Waldencast during the 4th quarter worth $224,278,000. Dynamo Internacional Gestao DE Recursos LTDA. boosted its stake in shares of Waldencast by 4.6% during the 3rd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 15,332,933 shares of the company's stock worth $144,436,000 after acquiring an additional 674,600 shares during the last quarter. Truxt Investmentos Ltda. boosted its stake in shares of Waldencast by 3.7% during the 4th quarter. Truxt Investmentos Ltda. now owns 4,075,479 shares of the company's stock worth $44,586,000 after acquiring an additional 144,841 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Waldencast by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company's stock worth $814,000 after acquiring an additional 36,642 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new position in shares of Waldencast during the 1st quarter worth $142,000. 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.