Waldencast PLC (NASDAQ:WALD) Short Interest Down 29.0% in September

Key Points

• Waldencast PLC experienced a significant drop of 29.0% in short interest, totaling 987,500 shares as of September 30th, down from 1,390,000 shares mid-month.
• Shares opened at $1.86, with a 12-month low of $1.48 and a high of $4.18, while the average target price is $4.97 based on a consensus rating of "Moderate Buy."
• Institutional holdings account for 41.97% of Waldencast's stock, with several firms, including Invesco and the Police & Firemen's Retirement System of New Jersey, acquiring new stakes during the second quarter.

Waldencast PLC (NASDAQ:WALD - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 987,500 shares, a drop of 29.0% from the September 15th total of 1,390,000 shares. Based on an average daily volume of 247,500 shares, the short-interest ratio is currently 4.0 days. Currently, 5.5% of the shares of the company are sold short. Currently, 5.5% of the shares of the company are sold short. Based on an average daily volume of 247,500 shares, the short-interest ratio is currently 4.0 days.

Waldencast Stock Up 1.1%

Shares of Waldencast stock opened at $1.86 on Thursday. Waldencast has a 12 month low of $1.48 and a 12 month high of $4.18. The firm's fifty day simple moving average is $1.84 and its 200-day simple moving average is $2.22.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WALD. Telsey Advisory Group lowered their target price on shares of Waldencast from $4.00 to $3.00 and set an "outperform" rating on the stock in a report on Wednesday, August 20th. Weiss Ratings restated a "sell (e+)" rating on shares of Waldencast in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.97.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. acquired a new stake in shares of Waldencast in the second quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Waldencast in the 2nd quarter valued at approximately $26,000. McAdam LLC acquired a new position in shares of Waldencast during the 2nd quarter worth approximately $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company's stock worth $57,000 after acquiring an additional 8,485 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Waldencast during the 1st quarter worth approximately $77,000. 41.97% of the stock is currently owned by institutional investors.

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.

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