Waldencast PLC (NASDAQ:WALD) Short Interest Up 328.6% in April

Waldencast PLC (NASDAQ:WALD) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 4,221,729 shares, an increase of 328.6% from the April 15th total of 984,965 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average trading volume of 4,269,270 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group dropped their price objective on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Monday, March 16th. Canaccord Genuity Group dropped their price objective on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Weiss Ratings upgraded shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.00.

Waldencast Price Performance

WALD traded down $0.09 during trading on Friday, hitting $1.54. The stock had a trading volume of 86,859 shares, compared to its average volume of 692,197. Waldencast has a twelve month low of $0.72 and a twelve month high of $3.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.70 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.66.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently made changes to their positions in WALD. Jane Street Group LLC acquired a new stake in shares of Waldencast during the first quarter worth $77,000. Rhumbline Advisers lifted its stake in shares of Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock worth $185,000 after buying an additional 8,151 shares during the period. Geode Capital Management LLC lifted its stake in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after buying an additional 224,905 shares during the period. Invesco Ltd. acquired a new stake in shares of Waldencast during the second quarter worth $26,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Waldencast by 57.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock worth $57,000 after buying an additional 8,485 shares during the period. 41.97% of the stock is currently owned by institutional investors and hedge funds.

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.