Waldencast PLC (NASDAQ:WALD) Short Interest Down 19.3% in March

Waldencast PLC (NASDAQ:WALD) saw a large decline in short interest in March. As of March 31st, there was short interest totaling 972,423 shares, a decline of 19.3% from the March 15th total of 1,205,249 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 157,886 shares, the short-interest ratio is presently 6.2 days.

Institutional Trading of Waldencast

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG increased its stake in shares of Waldencast by 466.2% during the third quarter. UBS Group AG now owns 838,536 shares of the company’s stock valued at $1,660,000 after buying an additional 690,441 shares during the period. Geode Capital Management LLC increased its stake in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after buying an additional 224,905 shares during the period. Beartown Capital Management LLC purchased a new position in shares of Waldencast during the fourth quarter valued at $564,000. Rhumbline Advisers increased its stake in shares of Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after buying an additional 8,151 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Waldencast by 80.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 87,015 shares of the company’s stock valued at $164,000 after buying an additional 38,749 shares during the period. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Stock Down 1.9%

NASDAQ WALD opened at $1.04 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. Waldencast has a one year low of $0.86 and a one year high of $3.22. The stock has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WALD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Jefferies Financial Group initiated coverage on shares of Waldencast in a research report on Wednesday, January 14th. They set a “buy” rating and a $2.00 price target for the company. Telsey Advisory Group reduced their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Monday, March 16th. Finally, Canaccord Genuity Group reduced their price target on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.20.

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.