Waldencast PLC (NASDAQ:WALD) Short Interest Up 121.7% in July

Key Points

• Waldencast’s short interest surged 121.7% to 282,629 shares as of July 31, representing 0.2% of shares outstanding and 0.7 days of average trading volume.
• WALD shares opened at $1.35, compared with a 52-week range of $0.72 to $3.22; the company reported a 1.70 current ratio and a 0.29 debt-to-equity ratio.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold, and one Sell. The consensus rating is Hold, with an average price target of $2.33, while institutional investors own 41.97% of the stock.

Waldencast PLC (NASDAQ:WALD - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 282,629 shares, an increase of 121.7% from the July 15th total of 127,493 shares. Based on an average daily trading volume, of 392,945 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the company's stock are sold short.

Waldencast Stock Performance

Shares of WALD stock opened at $1.35 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. Waldencast has a 52 week low of $0.72 and a 52 week high of $3.22. The firm's 50-day simple moving average is $1.64 and its two-hundred day simple moving average is $1.49.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. purchased a new position in Waldencast in the second quarter valued at approximately $26,000. Bank of America Corp DE raised its stake in shares of Waldencast by 32.2% in the first quarter. Bank of America Corp DE now owns 42,676 shares of the company's stock valued at $40,000 after buying an additional 10,396 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Waldencast in the fourth quarter valued at $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Waldencast by 57.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company's stock valued at $57,000 after buying an additional 8,485 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Waldencast during the 1st quarter valued at $77,000. Institutional investors own 41.97% of the company's stock.

Analyst Ratings Changes

WALD has been the topic of a number of research analyst reports. Wall Street Zen upgraded Waldencast to a "hold" rating in a research note on Saturday, May 30th. Canaccord Genuity Group lifted their price target on Waldencast from $2.00 to $3.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings cut Waldencast from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Waldencast presently has a consensus rating of "Hold" and a consensus price target of $2.33.

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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