Waldencast (NASDAQ:WALD) Shares Down 2.1%

Waldencast plc (NASDAQ:WALD)’s stock price traded down 2.1% during mid-day trading on Wednesday . The company traded as low as $4.17 and last traded at $4.18. 6,982 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 144,073 shares. The stock had previously closed at $4.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. DA Davidson lifted their target price on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Telsey Advisory Group lowered their price objective on shares of Waldencast from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th.

Waldencast Price Performance

The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $4.51.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in Waldencast in the 2nd quarter valued at about $37,000. Catalina Capital Group LLC purchased a new stake in shares of Waldencast during the 1st quarter valued at approximately $73,000. Cubist Systematic Strategies LLC bought a new position in Waldencast in the 2nd quarter worth approximately $85,000. Norden Group LLC bought a new position in Waldencast in the 1st quarter worth approximately $92,000. Finally, Simplicity Wealth LLC bought a new stake in Waldencast during the 1st quarter valued at $142,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

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.