Waldencast PLC (NASDAQ:WALD – Get Free Report) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 163,296 shares, a drop of 84.6% from the June 15th total of 1,062,548 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 871,694 shares, the days-to-cover ratio is currently 0.2 days.
Waldencast Stock Performance
Shares of WALD traded up $0.01 during midday trading on Friday, hitting $1.73. 205,841 shares of the company’s stock traded hands, compared to its average volume of 643,069. 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 1 year low of $0.72 and a 1 year high of $3.22. The firm’s fifty day moving average is $1.57 and its 200-day moving average is $1.51.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Waldencast from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Waldencast to a “hold” rating in a research note on Saturday, May 30th. Telsey Advisory Group decreased 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, Weiss Ratings cut shares of Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.33.
Institutional Investors Weigh In On Waldencast
Several institutional investors have recently added to or reduced their stakes in WALD. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 10,396 shares during the last quarter. Stoic Point Capital Management LLC raised its position in shares of Waldencast by 17.1% in 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 purchasing an additional 239,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Waldencast by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock worth $101,000 after purchasing an additional 10,728 shares in the last quarter. Beartown Capital Management LLC purchased a new stake in Waldencast during the 4th quarter worth approximately $564,000. Finally, Barclays PLC grew its position in Waldencast by 11.0% during the 4th quarter. Barclays PLC now owns 66,337 shares of the company’s stock worth $125,000 after purchasing an additional 6,587 shares during the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.
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.
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