Waldencast PLC (NASDAQ:WALD) Short Interest Up 26.2% in May

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

Waldencast Stock Performance

Shares of NASDAQ WALD opened at $2.25 on Friday. Waldencast has a 12-month low of $1.98 and a 12-month high of $4.74. The stock’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $3.01. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently made changes to their positions in WALD. Stonebrook Private Inc. purchased a new position in Waldencast in the fourth quarter valued at about $48,000. Ethic Inc. bought a new stake in shares of Waldencast in the 4th quarter valued at about $56,000. Wells Fargo & Company MN grew its position in shares of Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after buying an additional 3,358 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Waldencast in the 4th quarter worth approximately $70,000. Finally, Jane Street Group LLC bought a new position in shares of Waldencast during the 1st quarter worth approximately $77,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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