Waldencast PLC (NASDAQ:WALD) Short Interest Update

Waldencast PLC (NASDAQ:WALDGet Free Report) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 1,168,997 shares, a decline of 72.3% from the April 30th total of 4,221,729 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 665,683 shares, the short-interest ratio is currently 1.8 days.

Waldencast Stock Up 3.8%

Shares of NASDAQ:WALD opened at $1.36 on Friday. Waldencast has a 52-week low of $0.72 and a 52-week high of $3.22. The firm has a fifty day moving average of $1.16 and a 200 day moving average of $1.62. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WALD. Wells Fargo & Company MN lifted its stake in Waldencast by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 47,484 shares of the company’s stock worth $89,000 after purchasing an additional 15,014 shares during the last quarter. Deutsche Bank AG lifted its stake in Waldencast by 264.2% in the fourth quarter. Deutsche Bank AG now owns 43,205 shares of the company’s stock worth $81,000 after purchasing an additional 31,341 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Waldencast by 80.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 87,015 shares of the company’s stock worth $164,000 after purchasing an additional 38,749 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Waldencast in the third quarter worth $78,000. Finally, JPMorgan Chase & Co. lifted its stake in Waldencast by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock worth $114,000 after purchasing an additional 6,516 shares during the last quarter. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WALD has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Telsey Advisory Group reduced their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Monday, March 16th. Finally, Canaccord Genuity Group reduced their price target on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.00.

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About Waldencast

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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.

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