Waldencast PLC (NASDAQ:WALD) Short Interest Update

Key Points

• Short interest in Waldencast PLC increased by 60.6% in August, reaching 940,100 shares, which represents 5.2% of the company's total shares.
• Several hedge funds have initiated new positions in Waldencast, resulting in institutional ownership of approximately 41.97% of the company's stock.
• Analysts have set a new average price target of $4.97 for Waldencast, with a consensus rating of "Moderate Buy," although some have downgraded their ratings recently.

Waldencast PLC (NASDAQ:WALD - Get Free Report) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 940,100 shares, a growth of 60.6% from the August 15th total of 585,300 shares. Approximately 5.2% of the company's shares are sold short. Based on an average daily trading volume, of 266,900 shares, the short-interest ratio is currently 3.5 days. Based on an average daily trading volume, of 266,900 shares, the short-interest ratio is currently 3.5 days. Approximately 5.2% of the company's shares are sold short.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. purchased a new position in shares of Waldencast during the 2nd quarter worth $26,000. Police & Firemen s Retirement System of New Jersey bought a new position in Waldencast during the 2nd quarter valued at about $26,000. Stonebrook Private Inc. bought a new position in Waldencast in the 4th quarter worth about $48,000. Ethic Inc. purchased a new stake in shares of Waldencast in the 4th quarter worth approximately $56,000. Finally, McAdam LLC purchased a new stake in Waldencast during the second quarter valued at approximately $56,000. Institutional investors own 41.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WALD. Wall Street Zen lowered Waldencast from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Telsey Advisory Group decreased their target price on Waldencast from $4.00 to $3.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.97.

Waldencast Price Performance

Shares of Waldencast stock traded down $0.06 during trading on Friday, reaching $2.02. 102,500 shares of the stock were exchanged, compared to its average volume of 152,385. Waldencast has a 1 year low of $1.48 and a 1 year high of $4.29. The stock's fifty day moving average is $1.90 and its 200 day moving average is $2.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.35.

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.