Waldencast (NASDAQ:WALD) Hits New 1-Year Low at $5.00

Waldencast plc (NASDAQ:WALD)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $5.00 and last traded at $5.00, with a volume of 1539 shares traded. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group lowered their target price on shares of Waldencast from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd.

Waldencast Stock Performance

The business’s 50-day moving average is $6.42 and its two-hundred day moving average is $8.18.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zeno Equity Partners LLP acquired a new stake in Waldencast during the fourth quarter worth $224,278,000. Truxt Investmentos Ltda. raised its holdings in Waldencast by 3.7% in the 4th quarter. Truxt Investmentos Ltda. now owns 4,075,479 shares of the company’s stock valued at $44,586,000 after buying an additional 144,841 shares during the period. Bank of New York Mellon Corp lifted its position in Waldencast by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 86,409 shares of the company’s stock valued at $814,000 after buying an additional 36,642 shares during the last quarter. Simplicity Wealth LLC acquired a new position in Waldencast in the first quarter valued at about $142,000. Finally, SG Americas Securities LLC purchased a new position in Waldencast during the third quarter worth about $151,000. 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.