Waldencast PLC (NASDAQ:WALD) Sees Significant Growth in Short Interest

Waldencast PLC (NASDAQ:WALD) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,326,877 shares, a growth of 50.0% from the November 30th total of 884,877 shares. Based on an average daily volume of 121,705 shares, the short-interest ratio is currently 10.9 days. Currently, 1.1% of the company’s shares are short sold. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 121,705 shares, the short-interest ratio is currently 10.9 days.

Waldencast Trading Down 1.3%

NASDAQ WALD opened at $1.92 on Wednesday. Waldencast has a 12 month low of $1.48 and a 12 month high of $4.10. The company’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $2.05. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.32.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings results on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The business had revenue of $66.14 million during the quarter. On average, analysts anticipate that Waldencast will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on WALD. Telsey Advisory Group downgraded shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a research report on Tuesday, November 25th. Jefferies Financial Group reissued a “buy” rating and issued a $3.50 price target on shares of Waldencast in a report on Tuesday, November 25th. Canaccord Genuity Group lowered their target price on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Institutional Investors Weigh In On Waldencast

Hedge funds have recently modified their holdings of the business. Invesco Ltd. bought a new position in Waldencast in the second quarter worth $26,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Waldencast in the 2nd quarter valued at about $26,000. McAdam LLC acquired a new position in shares of Waldencast during the second quarter worth approximately $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Waldencast by 57.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after buying an additional 8,485 shares during the period. Finally, Covestor Ltd lifted its position in Waldencast by 98,716.0% during the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after purchasing an additional 24,679 shares during the period. 41.97% of the stock is owned by institutional investors.

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.