Waldencast (NASDAQ:WALD) Hits New 12-Month Low at $5.00

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

Analysts Set New Price Targets

Separately, Telsey Advisory Group cut their target price on Waldencast from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Wednesday.

Waldencast Price Performance

The business has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $8.15.

Institutional Investors Weigh In On Waldencast

A number of institutional investors have recently added to or reduced their stakes in WALD. Amalgamated Bank lifted its position in shares of Waldencast by 68.1% during the 3rd 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. Barclays PLC lifted its position in shares of Waldencast by 75.3% during the 3rd quarter. Barclays PLC now owns 7,177 shares of the company’s stock valued at $67,000 after acquiring an additional 3,084 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Waldencast during the 1st quarter valued at $92,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Waldencast during the 3rd quarter valued at $97,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Waldencast during the 1st quarter valued at $142,000. 41.97% of the stock is currently owned by institutional investors and hedge funds.

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.