Waldencast (NASDAQ:WALD) Shares Down 1.2% – Should You Sell?

Shares of Waldencast PLC (NASDAQ:WALD) traded down 1.2% during trading on Tuesday. The stock traded as low as $0.8610 and last traded at $0.8690. 275,916 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 379,154 shares. The stock had previously closed at $0.8794.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Waldencast presently has an average rating of “Hold” and an average price target of $2.33.

Waldencast Stock Down 1.2%

The business has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.34.

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently added to or reduced their stakes in WALD. Bank of America Corp DE raised its holdings in Waldencast by 32.2% in the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after buying an additional 10,396 shares during the period. Bank of New York Mellon Corp raised its position in shares of Waldencast by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock valued at $101,000 after purchasing an additional 10,728 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Waldencast in the 2nd quarter valued at about $39,000. Stoic Point Capital Management LLC lifted its stake in Waldencast by 17.1% during the first quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company’s stock worth $1,555,000 after purchasing an additional 239,000 shares during the last quarter. Finally, Milestones Administradora de Recursos Ltda. boosted its holdings in Waldencast by 61.8% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 3,925,677 shares of the company’s stock worth $3,376,000 after purchasing an additional 1,500,000 shares during the period. 41.97% of the stock is currently owned by institutional investors and hedge funds.

Waldencast Company Profile

Waldencast plc (NASDAQ: WALD) is a global beauty and wellness platform that develops, acquires and operates consumer brands in skincare, cosmetics and related personal-care categories. The company focuses on building brands with differentiated products, strong consumer identities and distribution across multiple retail and digital channels.

Its portfolio has included Obagi Medical, a skincare brand known for dermatologist-focused products targeting concerns such as hyperpigmentation, signs of aging and acne, and Milk Makeup, a color cosmetics and skincare brand offering products designed for contemporary, on-the-go consumers.