Waldencast PLC (NASDAQ:WALD) Short Interest Up 121.7% in July

Waldencast PLC (NASDAQ:WALD) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 282,629 shares, an increase of 121.7% from the July 15th total of 127,493 shares. Based on an average daily volume of 392,945 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

Waldencast Price Performance

Shares of WALD stock opened at $1.35 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $1.64 and a 200 day simple moving average of $1.49. Waldencast has a 1 year low of $0.72 and a 1 year high of $3.22.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen raised shares of Waldencast to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings downgraded Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, Canaccord Genuity Group boosted their target price on shares of Waldencast from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.33.

Hedge Funds Weigh In On Waldencast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WALD. Invesco Ltd. bought a new position in shares of Waldencast in the second quarter worth $26,000. Bank of America Corp DE lifted its position in Waldencast by 32.2% during the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock worth $40,000 after purchasing an additional 10,396 shares during the period. CIBC Asset Management Inc bought a new stake in Waldencast during the fourth quarter worth about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Waldencast by 57.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock worth $57,000 after buying an additional 8,485 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Waldencast during the first quarter worth about $77,000. 41.97% of the stock is owned by institutional investors and hedge funds.

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.