Waldencast plc (NASDAQ:WALD – Get Free Report) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 385,000 shares, a drop of 25.2% from the May 31st total of 514,400 shares. Based on an average daily volume of 92,700 shares, the days-to-cover ratio is presently 4.2 days. Currently, 1.7% of the company’s stock are short sold.
Analyst Ratings Changes
Several analysts recently commented on the stock. DA Davidson decreased their price target on shares of Waldencast from $15.50 to $6.50 and set a “buy” rating for the company in a report on Tuesday, May 28th. Telsey Advisory Group restated an “outperform” rating and set a $8.00 price target on shares of Waldencast in a report on Tuesday, May 21st.
Check Out Our Latest Research Report on Waldencast
Hedge Funds Weigh In On Waldencast
Waldencast Trading Down 8.4 %
Shares of WALD opened at $3.59 on Friday. The firm’s 50 day moving average price is $4.48 and its 200 day moving average price is $6.75. The company has a quick ratio of 0.82, a current ratio of 1.71 and a debt-to-equity ratio of 0.22. Waldencast has a twelve month low of $3.54 and a twelve month high of $12.00.
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.
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