Short Interest in Waldencast PLC (NASDAQ:WALD) Drops By 72.3%

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WALD. Wall Street Zen upgraded shares of Waldencast to a “hold” rating in a report on Saturday. Canaccord Genuity Group lowered their target price on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Telsey Advisory Group lowered their target price on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings lowered shares of Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Waldencast presently has an average rating of “Hold” and an average price target of $2.00.

Waldencast Stock Down 9.6%

Shares of WALD traded down $0.13 on Friday, reaching $1.23. The company’s stock had a trading volume of 216,159 shares, compared to its average volume of 446,740. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. Waldencast has a twelve month low of $0.72 and a twelve month high of $3.22. The firm has a fifty day moving average of $1.15 and a 200-day moving average of $1.62.

Institutional Investors Weigh In On Waldencast

A number of institutional investors have recently added to or reduced their stakes in WALD. Stoic Point Capital Management LLC bought a new stake in Waldencast in the 4th quarter worth about $2,628,000. UBS Group AG grew its position in Waldencast by 466.2% in the 3rd 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 in the last quarter. Beartown Capital Management LLC bought a new stake in Waldencast in the 4th quarter worth about $564,000. Geode Capital Management LLC grew its position in Waldencast by 62.2% in the 2nd quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after purchasing an additional 224,905 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Waldencast in the 3rd quarter worth about $78,000. 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.