Waldencast (NASDAQ:WALD) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Waldencast has been reissued a "Sell (E+)" rating by Weiss Ratings, indicating caution for potential investors.
• Telsey Advisory Group has lowered their price target for Waldencast from $4.00 to $3.00, while maintaining an "outperform" rating.
• Institutional investors own 41.97% of Waldencast's stock, with several funds increasing their stakes during the first quarter.

Waldencast (NASDAQ:WALD - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Telsey Advisory Group dropped their price target on Waldencast from $4.00 to $3.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4.97.

Waldencast Stock Performance

Shares of WALD traded up $0.15 during mid-day trading on Wednesday, reaching $2.13. The company had a trading volume of 103,930 shares, compared to its average volume of 150,244. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $2.29. Waldencast has a 52 week low of $1.48 and a 52 week high of $4.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WALD. Rhumbline Advisers boosted its holdings in shares of Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock valued at $185,000 after purchasing an additional 8,151 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Waldencast during the 1st quarter valued at about $360,000. Nuveen LLC purchased a new stake in shares of Waldencast during the 1st quarter valued at about $128,000. Jane Street Group LLC purchased a new stake in shares of Waldencast during the 1st quarter valued at about $77,000. Finally, McAdam LLC purchased a new stake in shares of Waldencast during the 2nd quarter valued at about $56,000. 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.

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