Waldencast (NASDAQ:WALD) Shares Gap Down to $6.72

Waldencast plc (NASDAQ:WALD)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.72, but opened at $6.57. Waldencast shares last traded at $6.57, with a volume of 1,398 shares.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group lowered their price objective on Waldencast from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd.

Waldencast Trading Down 4.5 %

The stock’s 50 day moving average price is $6.92 and its 200 day moving average price is $8.58.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently bought and sold shares of WALD. Legal & General Group Plc acquired a new position in shares of Waldencast in the 3rd quarter valued at $28,000. Amalgamated Bank boosted its holdings in Waldencast by 68.1% in the third quarter. Amalgamated Bank now owns 3,277 shares of the company’s stock valued at $31,000 after acquiring an additional 1,328 shares during the last quarter. UBS Group AG boosted its holdings in Waldencast by 295.8% in the first quarter. UBS Group AG now owns 3,297 shares of the company’s stock valued at $33,000 after acquiring an additional 2,464 shares during the last quarter. Barclays PLC grew its position in Waldencast by 440.0% during the second quarter. Barclays PLC now owns 4,093 shares of the company’s stock valued at $31,000 after acquiring an additional 3,335 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Waldencast during the first quarter worth about $43,000. Institutional investors and hedge funds 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.