Short Interest in Waldencast plc (NASDAQ:WALD) Decreases By 22.2%

Waldencast plc (NASDAQ:WALD) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 318,900 shares, a drop of 22.2% from the April 30th total of 409,700 shares. Based on an average daily volume of 81,400 shares, the short-interest ratio is currently 3.9 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Waldencast

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Waldencast by 15.2% in the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after acquiring an additional 8,151 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Waldencast in the first quarter worth $77,000. Nuveen LLC acquired a new position in Waldencast in the first quarter valued at about $128,000. Simplicity Wealth LLC bought a new stake in Waldencast during the first quarter worth about $360,000. Finally, Stonebrook Private Inc. bought a new stake in Waldencast during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

Waldencast Trading Down 1.2%

NASDAQ WALD opened at $2.40 on Wednesday. The firm has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $3.10. Waldencast has a 12-month low of $1.98 and a 12-month high of $4.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Industrial Alliance Securities set a $5.00 price target on Waldencast in a research report on Tuesday, April 22nd. Alliance Global Partners reissued a “buy” rating on shares of Waldencast in a report on Thursday, May 15th. Wall Street Zen downgraded Waldencast from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Canaccord Genuity Group reduced their price objective on shares of Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Finally, Telsey Advisory Group decreased their price objective on shares of Waldencast from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Waldencast currently has an average rating of “Moderate Buy” and an average target price of $5.11.

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.