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

Waldencast PLC (NASDAQ:WALD) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 987,500 shares, a drop of 29.0% from the September 15th total of 1,390,000 shares. Based on an average daily volume of 247,500 shares, the short-interest ratio is presently 4.0 days. Approximately 5.5% of the shares of the stock are sold short. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 247,500 shares, the short-interest ratio is presently 4.0 days.

Institutional Investors Weigh In On Waldencast

Several hedge funds have recently modified their holdings of WALD. Rhumbline Advisers boosted 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 valued at $185,000 after acquiring an additional 8,151 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Waldencast during the 1st quarter valued at $128,000. Jane Street Group LLC acquired a new stake in shares of Waldencast during the 1st quarter valued at $77,000. McAdam LLC acquired a new stake in shares of Waldencast during the 2nd quarter valued at $56,000. Finally, Geode Capital Management LLC lifted its holdings in Waldencast by 62.2% during the 2nd quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after buying an additional 224,905 shares during the period. Institutional investors and hedge funds own 41.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WALD shares. Telsey Advisory Group decreased their price target on Waldencast from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Waldencast presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.97.

Waldencast Price Performance

NASDAQ WALD opened at $1.82 on Friday. Waldencast has a twelve month low of $1.48 and a twelve month high of $4.18. The business’s fifty day moving average is $1.84 and its 200 day moving average is $2.21.

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.