Waldencast PLC (NASDAQ:WALD) Short Interest Up 328.6% in April

Waldencast PLC (NASDAQ:WALD) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 4,221,729 shares, an increase of 328.6% from the April 15th total of 984,965 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 4,269,270 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WALD. Invesco Ltd. bought a new position in Waldencast in the 2nd quarter valued at $26,000. CIBC Asset Management Inc bought a new position in Waldencast in the 4th quarter valued at $46,000. Covestor Ltd boosted its position in Waldencast by 98,716.0% in the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after buying an additional 24,679 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 8,485 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Waldencast in the 1st quarter valued at $77,000. 41.97% of the stock is currently owned by institutional investors.

Waldencast Price Performance

NASDAQ WALD opened at $1.65 on Thursday. Waldencast has a one year low of $0.72 and a one year high of $3.22. The stock’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $1.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Waldencast in a research report on Wednesday, January 14th. They set a “buy” rating and a $2.00 price target on the stock. Canaccord Genuity Group decreased their price target on Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Weiss Ratings upgraded Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Finally, Telsey Advisory Group decreased their price target on Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Monday, March 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Waldencast presently has an average rating of “Hold” and an average target price of $2.00.

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.