Waldencast plc (NASDAQ:WALD) Short Interest Update

Waldencast plc (NASDAQ:WALD) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 710,500 shares, a growth of 20.4% from the September 30th total of 590,300 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 210,500 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Wednesday, October 9th. Canaccord Genuity Group began coverage on Waldencast in a report on Friday, October 25th. They set a “buy” rating and a $5.00 target price for the company. Canaccord Genuity Group began coverage on shares of Waldencast in a report on Friday, October 25th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, DA Davidson boosted their price objective on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, September 4th.

Institutional Investors Weigh In On Waldencast

Several hedge funds have recently modified their holdings of WALD. Marshall Wace LLP acquired a new position in Waldencast during the 2nd quarter worth approximately $37,000. Catalina Capital Group LLC purchased a new stake in shares of Waldencast during the first quarter valued at approximately $73,000. Norden Group LLC acquired a new position in shares of Waldencast during the first quarter worth $92,000. McAdam LLC purchased a new position in shares of Waldencast in the third quarter valued at $62,000. Finally, Bleakley Financial Group LLC acquired a new stake in Waldencast during the 1st quarter valued at $142,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Waldencast Price Performance

NASDAQ:WALD opened at $3.95 on Wednesday. Waldencast has a 12 month low of $2.40 and a 12 month high of $12.00. The business’s 50-day moving average is $3.58 and its two-hundred day moving average is $3.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

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.