Short Interest in Waldencast plc (NASDAQ:WALD) Declines By 32.0%

Waldencast plc (NASDAQ:WALD) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 293,300 shares, a decrease of 32.0% from the December 15th total of 431,300 shares. Based on an average trading volume of 87,800 shares, the short-interest ratio is presently 3.3 days. Approximately 1.2% of the shares of the stock are short sold.

Waldencast Stock Performance

Waldencast stock opened at $3.07 on Wednesday. Waldencast has a 52-week low of $2.40 and a 52-week high of $9.87. The firm’s fifty day moving average is $3.49 and its 200 day moving average is $3.43. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen initiated coverage on Waldencast in a research note on Monday, December 16th. They set a “hold” rating and a $4.30 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a report on Monday, November 18th. Canaccord Genuity Group lifted their price target on shares of Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. DA Davidson increased their price objective on shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group initiated coverage on Waldencast in a report on Friday, October 25th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.76.

Institutional Trading of Waldencast

Several hedge funds have recently made changes to their positions in the business. Milestones Administradora de Recursos Ltda. grew its position in Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock worth $8,008,000 after acquiring an additional 200,000 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Waldencast by 416.2% during the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after purchasing an additional 62,148 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Waldencast during the 2nd quarter valued at $239,000. JPMorgan Chase & Co. lifted its position in Waldencast by 52.0% in the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock worth $157,000 after buying an additional 14,803 shares during the last quarter. Finally, Barclays PLC boosted its stake in Waldencast by 301.4% during the third quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after buying an additional 24,355 shares during the period. 41.97% of the stock is currently owned by hedge funds and other 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.