Waldencast PLC (NASDAQ:WALD) Short Interest Update

Waldencast PLC (NASDAQ:WALD) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 402,600 shares, a growth of 26.2% from the May 15th total of 318,900 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 96,300 shares, the short-interest ratio is currently 4.2 days.

Institutional Investors Weigh In On Waldencast

Several hedge funds have recently added to or reduced their stakes in the business. Stonebrook Private Inc. acquired a new position in Waldencast in the 4th quarter valued at approximately $48,000. Ethic Inc. bought a new stake in shares of Waldencast in the fourth quarter worth $56,000. Wells Fargo & Company MN increased its holdings in Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after purchasing an additional 3,358 shares during the period. XTX Topco Ltd acquired a new stake in Waldencast in the fourth quarter valued at $70,000. Finally, Jane Street Group LLC bought a new position in Waldencast during the 1st quarter worth $77,000. 41.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WALD has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $7.50 price target on shares of Waldencast in a research note on Wednesday, March 19th. Telsey Advisory Group lowered their target price on Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Wall Street Zen cut shares of Waldencast from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Canaccord Genuity Group reduced their price target on shares of Waldencast from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. Finally, Industrial Alliance Securities set a $5.00 price objective on shares of Waldencast in a research report on Tuesday, April 22nd. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.11.

Waldencast Price Performance

Shares of WALD stock opened at $2.15 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.35 and a quick ratio of 0.66. The business’s 50-day moving average price is $2.53 and its 200-day moving average price is $3.02. Waldencast has a 12 month low of $1.98 and a 12 month high of $4.74.

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.