Waldencast (NASDAQ:WALD) Shares Down 3% – What’s Next?

Waldencast PLC (NASDAQ:WALD)’s stock price fell 3% during trading on Monday . The company traded as low as $1.59 and last traded at $1.61. Approximately 180,860 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 837,601 shares. The stock had previously closed at $1.66.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WALD. Weiss Ratings raised shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 8th. Telsey Advisory Group dropped their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Monday, March 16th. Wall Street Zen upgraded shares of Waldencast to a “hold” rating in a report on Saturday, May 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Waldencast from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.33.

Waldencast Price Performance

The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $1.37 and a 200-day simple moving average of $1.55.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in Waldencast during the 2nd quarter worth $26,000. Bank of America Corp DE increased its stake in shares of Waldencast by 32.2% in the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock worth $40,000 after purchasing an additional 10,396 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Waldencast during the 4th quarter worth about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after purchasing an additional 8,485 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Waldencast in the 1st quarter valued at approximately $77,000. 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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.