Waldencast PLC (NASDAQ:WALD) Short Interest Down 29.0% in September

Waldencast PLC (NASDAQ:WALD) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 987,500 shares, a drop of 29.0% from the September 15th total of 1,390,000 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average trading volume of 247,500 shares, the days-to-cover ratio is currently 4.0 days. Based on an average trading volume of 247,500 shares, the days-to-cover ratio is currently 4.0 days. Currently, 5.5% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a report on Friday. Telsey Advisory Group cut their price objective on Waldencast from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Wednesday, August 20th. Four equities 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.com, Waldencast currently has an average rating of “Moderate Buy” and an average price target of $4.97.

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after buying an additional 8,151 shares in the last quarter. Nuveen LLC bought a new stake in shares of Waldencast during the 1st quarter worth approximately $128,000. Jane Street Group LLC bought a new stake in shares of Waldencast during the 1st quarter worth approximately $77,000. McAdam LLC bought a new stake in shares of Waldencast during the 2nd quarter worth approximately $56,000. Finally, Geode Capital Management LLC raised its stake in shares of Waldencast by 62.2% during the 2nd quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after purchasing an additional 224,905 shares in the last quarter. 41.97% of the stock is currently owned by institutional investors and hedge funds.

Waldencast Price Performance

Shares of NASDAQ:WALD opened at $1.92 on Friday. Waldencast has a 1-year low of $1.48 and a 1-year high of $4.18. The business has a 50-day moving average price of $1.84 and a two-hundred day moving average price of $2.21.

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.