Short Interest in Waldencast PLC (NASDAQ:WALD) Drops By 79.2%

Waldencast PLC (NASDAQ:WALD) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 58,897 shares, a decline of 79.2% from the July 30th total of 282,629 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 225,077 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings raised Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 17th. Canaccord Genuity Group boosted their price target on Waldencast from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Waldencast to a “hold” rating in a report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.33.

Institutional Trading of Waldencast

Several large investors have recently added to or reduced their stakes in WALD. Stoic Point Capital Management LLC purchased a new stake in shares of Waldencast in the 4th quarter valued at $2,628,000. UBS Group AG increased its stake in shares of Waldencast by 466.2% in the 3rd quarter. UBS Group AG now owns 838,536 shares of the company’s stock valued at $1,660,000 after purchasing an additional 690,441 shares in the last quarter. Beartown Capital Management LLC purchased a new stake in shares of Waldencast in the fourth quarter valued at approximately $564,000. Geode Capital Management LLC increased its holdings in Waldencast by 62.2% in the 2nd quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after acquiring an additional 224,905 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Waldencast during the 3rd quarter worth about $78,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Trading Up 2.3%

Shares of WALD opened at $1.36 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.47. Waldencast has a fifty-two week low of $0.72 and a fifty-two week high of $3.22.

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. 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.