Waldencast plc (NASDAQ:WALD) Sees Large Increase in Short Interest

Waldencast plc (NASDAQ:WALD) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 370,300 shares, an increase of 27.1% from the January 15th total of 291,400 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 95,300 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

WALD has been the topic of a number of recent research reports. Canaccord Genuity Group assumed coverage on Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 price objective on the stock. TD Cowen started coverage on Waldencast in a research report on Monday, December 16th. They issued a “hold” rating and a $4.30 price objective for the company. Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of Waldencast in a research report on Monday, November 18th. Canaccord Genuity Group lifted their price target on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, DA Davidson increased their price objective on shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WALD. Milestones Administradora de Recursos Ltda. increased its stake in Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after purchasing an additional 200,000 shares in the last quarter. Barclays PLC increased its position in shares of Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after buying an additional 24,355 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Waldencast by 75.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares during the period. McAdam LLC bought a new position in Waldencast during the third quarter worth about $62,000. Finally, Catalina Capital Group LLC acquired a new position in Waldencast in the third quarter valued at about $58,000. Institutional investors own 41.97% of the company’s stock.

Waldencast Trading Down 4.1 %

WALD traded down $0.13 during midday trading on Friday, reaching $3.07. 48,218 shares of the company were exchanged, compared to its average volume of 78,013. Waldencast has a one year low of $2.40 and a one year high of $8.35. The stock’s 50-day simple moving average is $3.48 and its 200 day simple moving average is $3.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

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.