Waldencast PLC (NASDAQ:WALD) Shares Shorted: Short Interest Up 374.1% in September

Waldencast PLC (NASDAQ:WALD) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 207,036 shares, an increase of 374.1% from the August 31st total of 43,668 shares. Based on an average daily volume of 373,430 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently made changes to their positions in WALD. Stoic Point Capital Management LLC increased its holdings in Waldencast by 17.1% during the 1st quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company’s stock valued at $1,555,000 after acquiring an additional 239,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Waldencast by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock valued at $101,000 after purchasing an additional 10,728 shares in the last quarter. Bank of America Corp DE grew its position in shares of Waldencast by 32.2% in the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after purchasing an additional 10,396 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Waldencast in the second quarter valued at approximately $39,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WALD has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Waldencast from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of Waldencast to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings raised shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Waldencast currently has an average rating of “Hold” and an average target price of $2.33.

Waldencast Price Performance

Waldencast stock remained flat at $1.03 during trading hours on Friday. The company’s stock had a trading volume of 277,614 shares, compared to its average volume of 330,951. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70. Waldencast has a 12 month low of $0.72 and a 12 month high of $3.22. The firm has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.39.

About Waldencast

Waldencast plc is a global beauty and wellness company that develops, acquires and operates consumer brands across skincare, cosmetics and related personal-care categories. Its portfolio has included Obagi Skincare, a dermatologist-focused skincare brand, and Milk Makeup, a color cosmetics brand known for makeup and skincare products.

The company’s products are designed for distribution through professional, specialty, mass-market and e-commerce channels. Waldencast serves consumers in multiple international markets through retail partners, digital commerce and professional skincare channels, although the availability of individual brands and products can vary by geography.

Waldencast was established as a beauty-focused platform and became a publicly traded company on Nasdaq in 2022 through a business combination with a special purpose acquisition company.