Waldencast PLC (NASDAQ:WALD) Short Interest Update

Waldencast PLC (NASDAQ:WALD) saw a significant drop in short interest during the month of 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. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 871,694 shares, the days-to-cover ratio is presently 0.2 days.

Waldencast Stock Down 3.5%

NASDAQ WALD traded down $0.06 on Monday, reaching $1.67. The stock had a trading volume of 290,206 shares, compared to its average volume of 624,567. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. Waldencast has a 12-month low of $0.72 and a 12-month high of $3.22. The stock has a fifty day moving average price of $1.59 and a two-hundred day moving average price of $1.51.

Institutional Investors Weigh In On Waldencast

A number of institutional investors have recently modified their holdings of WALD. Invesco Ltd. acquired a new position in Waldencast during the 2nd quarter worth about $26,000. Bank of America Corp DE boosted its holdings in Waldencast by 32.2% during the 1st quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after acquiring an additional 10,396 shares during the period. CIBC Asset Management Inc acquired a new position in Waldencast in the 4th quarter valued at about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 8,485 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Waldencast during the first quarter worth about $77,000. 41.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings raised Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Telsey Advisory Group cut their price objective on Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Monday, March 16th. Canaccord Genuity Group boosted their price objective on shares of Waldencast from $2.00 to $3.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Waldencast to a “hold” rating in a research report on Saturday, May 30th. Two 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 data from MarketBeat, Waldencast currently has a consensus rating of “Hold” and a consensus target price of $2.33.

About Waldencast

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.