Waldencast's (WALD) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Waldencast's stock received a "sell (E+)" rating from Weiss Ratings, indicating a negative outlook on the investment.
• The Telsey Advisory Group has lowered its price target for Waldencast from $4.00 to $3.00 while maintaining an "outperform" rating.
• Institutional investors hold 41.97% of Waldencast’s stock, with significant increases in positions from firms like Geode Capital Management and MIRAE ASSET GLOBAL ETFS HOLDINGS.

Waldencast (NASDAQ:WALD - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

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

Waldencast Stock Up 5.5%

Shares of WALD stock traded up $0.10 during trading on Friday, hitting $1.92. 30,883 shares of the stock traded hands, compared to its average volume of 144,471. Waldencast has a 52-week low of $1.48 and a 52-week high of $4.18. The firm's fifty day moving average price is $1.84 and its 200-day moving average price is $2.21.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company's stock worth $1,437,000 after buying an additional 224,905 shares during the period. Rhumbline Advisers lifted its stake in Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock worth $185,000 after acquiring an additional 8,151 shares in the last quarter. Nuveen LLC purchased a new position in Waldencast during the 1st quarter valued at about $128,000. Jane Street Group LLC purchased a new position in Waldencast during the 1st quarter valued at about $77,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Waldencast by 57.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company's stock valued at $57,000 after acquiring an additional 8,485 shares in the last quarter. 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.

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