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

Waldencast PLC (NASDAQ:WALD) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 596,028 shares, a drop of 25.7% from the December 31st total of 801,939 shares. Based on an average daily volume of 64,202 shares, the short-interest ratio is currently 9.3 days. Based on an average daily volume of 64,202 shares, the short-interest ratio is currently 9.3 days.

Waldencast Stock Up 13.5%

Shares of WALD stock opened at $1.81 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $1.94 and its two-hundred day moving average is $1.92. Waldencast has a 12 month low of $1.45 and a 12 month high of $3.63.

Waldencast (NASDAQ:WALD) last announced its quarterly earnings results on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The firm had revenue of $66.14 million for the quarter. Equities research analysts anticipate that Waldencast will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Waldencast

Large investors have recently modified their holdings of the business. Invesco Ltd. acquired a new stake in shares of Waldencast during the 2nd quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Waldencast during the second quarter valued at about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Waldencast by 57.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after acquiring an additional 8,485 shares during the period. Covestor Ltd lifted its holdings in shares of Waldencast by 98,716.0% in the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock worth $49,000 after acquiring an additional 24,679 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Waldencast in the 1st quarter worth approximately $77,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

Analyst Upgrades and Downgrades

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 target price for the company. in a research report on Tuesday, November 25th. Canaccord Genuity Group cut their price objective on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Jefferies Financial Group initiated coverage on Waldencast in a report on Wednesday, January 14th. They set a “buy” rating and a $2.00 target price on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Waldencast presently has an average rating of “Moderate Buy” and a consensus target price of $4.42.

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.