State Street Corp Sells 5,046 Shares of Waldencast plc (NASDAQ:WALD)

State Street Corp cut its position in shares of Waldencast plc (NASDAQ:WALD) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 456,500 shares of the company’s stock after selling 5,046 shares during the period. State Street Corp owned about 0.37% of Waldencast worth $1,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WALD. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Waldencast by 293.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after buying an additional 5,114 shares during the period. Marshall Wace LLP bought a new stake in shares of Waldencast in the 2nd quarter valued at about $37,000. Catalina Capital Group LLC purchased a new stake in shares of Waldencast in the 3rd quarter worth approximately $58,000. McAdam LLC bought a new position in shares of Waldencast during the third quarter valued at approximately $62,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Waldencast during the second quarter valued at approximately $85,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WALD. DA Davidson increased their target price on Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, December 4th. TD Cowen started coverage on Waldencast in a research note on Monday, December 16th. They issued a “hold” rating and a $4.30 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Monday, November 18th. Canaccord Genuity Group lifted their price objective on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group initiated coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Stock Performance

Shares of WALD stock opened at $4.02 on Thursday. Waldencast plc has a fifty-two week low of $2.40 and a fifty-two week high of $11.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The stock’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.48.

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.