Waldencast plc (NASDAQ:WALD) Short Interest Down 22.2% in May

Waldencast plc (NASDAQ:WALD - Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 318,900 shares, a decrease of 22.2% from the April 30th total of 409,700 shares. Based on an average trading volume of 81,400 shares, the short-interest ratio is currently 3.9 days. Currently, 1.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Waldencast

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Waldencast in the fourth quarter valued at approximately $42,000. Stonebrook Private Inc. purchased a new position in shares of Waldencast during the 4th quarter valued at approximately $48,000. Ethic Inc. purchased a new position in shares of Waldencast during the 4th quarter valued at approximately $56,000. Wells Fargo & Company MN grew its stake in Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock valued at $59,000 after acquiring an additional 3,358 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Waldencast in the 4th quarter worth $70,000. Institutional investors and hedge funds own 41.97% of the company's stock.

Waldencast Trading Down 1.2%

Shares of Waldencast stock traded down $0.03 during trading hours on Tuesday, reaching $2.40. The stock had a trading volume of 192,417 shares, compared to its average volume of 130,438. The stock's 50 day moving average is $2.63 and its 200 day moving average is $3.10. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. Waldencast has a twelve month low of $1.98 and a twelve month high of $4.96.

Wall Street Analyst Weigh In

WALD has been the subject of several recent research reports. DA Davidson reissued a "buy" rating and set a $7.50 target price on shares of Waldencast in a report on Wednesday, March 19th. Industrial Alliance Securities set a $5.00 price objective on Waldencast in a research note on Tuesday, April 22nd. Telsey Advisory Group decreased their price objective on Waldencast from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Alliance Global Partners reaffirmed a "buy" rating on shares of Waldencast in a report on Thursday, May 15th. Finally, Canaccord Genuity Group reduced their price target on Waldencast from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.11.

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.