Waldencast PLC (NASDAQ:WALD) Short Interest Down 79.2% in August

Waldencast PLC (NASDAQ:WALD) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 58,897 shares, a decline of 79.2% from the July 30th total of 282,629 shares. Based on an average trading volume of 225,077 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

WALD has been the topic of several recent analyst reports. Weiss Ratings raised shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Waldencast to a “hold” rating in a report on Saturday, May 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Waldencast from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Waldencast presently has a consensus rating of “Hold” and a consensus target price of $2.33.

Hedge Funds Weigh In On Waldencast

Institutional investors have recently made changes to their positions in the business. Stoic Point Capital Management LLC bought a new position in shares of Waldencast during the fourth quarter worth about $2,628,000. UBS Group AG increased its holdings in Waldencast by 466.2% in the third quarter. UBS Group AG now owns 838,536 shares of the company’s stock valued at $1,660,000 after buying an additional 690,441 shares during the last quarter. Beartown Capital Management LLC bought a new stake in Waldencast in the fourth quarter valued at about $564,000. Geode Capital Management LLC raised its stake in Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after buying an additional 224,905 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Waldencast during the third quarter valued at approximately $78,000. 41.97% of the stock is owned by institutional investors and hedge funds.

Waldencast Trading Down 0.7%

Shares of Waldencast stock traded down $0.01 during trading hours on Thursday, hitting $1.36. 43,657 shares of the company’s stock traded hands, compared to its average volume of 300,454. Waldencast has a twelve month low of $0.72 and a twelve month high of $3.22. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.46.

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.