Waldencast PLC (NASDAQ:WALD) Short Interest Update

Waldencast PLC (NASDAQ:WALD) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 1,168,997 shares, a decline of 72.3% from the April 30th total of 4,221,729 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 665,683 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

WALD has been the subject of several recent research reports. Telsey Advisory Group lowered 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 note on Monday, March 16th. Weiss Ratings downgraded shares of Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group lowered their price target on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Waldencast currently has a consensus rating of “Hold” and an average target price of $2.00.

Waldencast Stock Up 3.8%

Shares of NASDAQ:WALD opened at $1.36 on Friday. The company has a 50-day moving average price of $1.16 and a 200-day moving average price of $1.62. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. Waldencast has a 12 month low of $0.72 and a 12 month high of $3.22.

Hedge Funds Weigh In On Waldencast

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Waldencast by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after acquiring an additional 6,516 shares during the last quarter. Barclays PLC increased its position in shares of Waldencast by 11.0% during the fourth quarter. Barclays PLC now owns 66,337 shares of the company’s stock valued at $125,000 after buying an additional 6,587 shares during the period. Rhumbline Advisers increased its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Waldencast by 57.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after buying an additional 8,485 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Waldencast by 32.2% during the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after buying an additional 10,396 shares during the period. 41.97% of the stock is owned by institutional investors.

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.