Waldencast PLC (NASDAQ:WALD) Sees Large Drop in Short Interest

Waldencast PLC (NASDAQ:WALD) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 801,939 shares, a drop of 39.6% from the December 15th total of 1,326,877 shares. Based on an average trading volume of 73,685 shares, the short-interest ratio is presently 10.9 days. Based on an average trading volume of 73,685 shares, the short-interest ratio is presently 10.9 days.

Institutional Trading of Waldencast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Milestones Administradora de Recursos Ltda. boosted its position in shares of Waldencast by 10.3% during the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock valued at $4,803,000 after acquiring an additional 225,677 shares during the last quarter. UBS Group AG raised its stake in Waldencast by 466.2% during the third quarter. UBS Group AG now owns 838,536 shares of the company’s stock worth $1,660,000 after purchasing an additional 690,441 shares during the period. Geode Capital Management LLC boosted its holdings in Waldencast by 62.2% in the 2nd quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after purchasing an additional 224,905 shares during the last quarter. McAdam LLC grew its stake in shares of Waldencast by 174.6% in the 3rd quarter. McAdam LLC now owns 63,014 shares of the company’s stock valued at $125,000 after buying an additional 40,063 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock worth $185,000 after buying an additional 8,151 shares during the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.

Waldencast Stock Performance

Shares of NASDAQ WALD traded down $0.03 during midday trading on Friday, hitting $1.62. The stock had a trading volume of 16,674 shares, compared to its average volume of 60,008. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53. The stock has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $1.99. Waldencast has a 1 year low of $1.45 and a 1 year high of $4.10.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.69) EPS for the quarter. The company had revenue of $66.14 million during the quarter. On average, equities research analysts predict that Waldencast will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Telsey Advisory Group cut shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price objective on the stock. in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, October 8th. Canaccord Genuity Group lowered their target price on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Finally, Jefferies Financial Group assumed coverage on Waldencast in a research note on Wednesday. They issued a “buy” rating and a $2.00 price target for the company. Four 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.42.

About Waldencast

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.