Waldencast PLC (NASDAQ:WALD) Short Interest Down 19.3% in March

Key Points

• Short interest fell 19.3% in March to 972,423 shares (about 0.8% of shares outstanding), leaving a days-to-cover ratio of 6.2 days.
• WALD shares opened at $1.07, trading below the 50‑day ($1.43) and 200‑day ($1.76) moving averages, with a 52‑week range of $0.86 to $3.22.
• Analyst sentiment is mixed—three Buys, one Hold and one Sell—with a consensus rating of "Hold" and a $3.20 target, while institutional investors own roughly 41.97% of the stock amid recent stake increases by several funds.

Waldencast PLC (NASDAQ:WALD - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 972,423 shares, a decline of 19.3% from the March 15th total of 1,205,249 shares. Approximately 0.8% of the company's shares are sold short. Based on an average trading volume of 157,886 shares, the days-to-cover ratio is currently 6.2 days.

Waldencast Price Performance

Shares of WALD stock opened at $1.07 on Thursday. The stock has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.76. The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. Waldencast has a fifty-two week low of $0.86 and a fifty-two week high of $3.22.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WALD. Jefferies Financial Group began coverage on Waldencast in a research note on Wednesday, January 14th. They issued a "buy" rating and a $2.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Waldencast in a research note on Wednesday, January 21st. Telsey Advisory Group cut their price objective on Waldencast from $3.00 to $2.00 and set a "market perform" rating on the stock in a research note on Monday, March 16th. Finally, Canaccord Genuity Group cut their price objective on Waldencast from $4.00 to $2.00 and set a "buy" rating on the stock in a research note on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $3.20.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently added to or reduced their stakes in the business. Milestones Administradora de Recursos Ltda. increased its holdings in Waldencast by 10.3% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company's stock worth $4,803,000 after purchasing an additional 225,677 shares in the last quarter. Stoic Point Capital Management LLC bought a new stake in shares of Waldencast during the fourth quarter valued at approximately $2,628,000. UBS Group AG raised its position in shares of Waldencast by 466.2% during the third quarter. UBS Group AG now owns 838,536 shares of the company's stock worth $1,660,000 after purchasing an additional 690,441 shares during the period. Geode Capital Management LLC raised its position 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 purchasing an additional 224,905 shares during the period. Finally, Beartown Capital Management LLC acquired a new position in shares of Waldencast during the fourth quarter worth approximately $564,000. 41.97% of the stock is currently owned by institutional investors.

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.

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