Waldencast PLC (NASDAQ:WALD) Short Interest Update

Key Points

• Short Interest Surge: Waldencast PLC experienced a dramatic increase in short interest of 1,643.1% in July, with 1.14 million shares sold short as of July 15th.
• Institutional Investment Growth: Institutional investors now hold 41.97% of Waldencast's stock, with several hedge funds significantly increasing their positions during the fourth quarter.
• Analyst Ratings Update: The stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $5.11, despite some downgrades in price targets.

Waldencast PLC (NASDAQ:WALD - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,140,000 shares, agrowthof1,643.1% from the June 30th total of 65,400 shares. Approximately9.7% of the shares of the stock are sold short. Based on an average daily volume of 139,000 shares, the days-to-cover ratio is currently 8.2 days. Based on an average daily volume of 139,000 shares, the days-to-cover ratio is currently 8.2 days. Approximately9.7% of the shares of the stock are sold short.

Waldencast Trading Down 3.8%

Shares of WALD stock traded down $0.07 during mid-day trading on Tuesday, hitting $1.75. The company's stock had a trading volume of 50,099 shares, compared to its average volume of 100,001. Waldencast has a 52-week low of $1.68 and a 52-week high of $4.74. The business has a 50-day moving average price of $2.39 and a 200 day moving average price of $2.76. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21.

Institutional Trading of Waldencast

Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock worth $59,000 after acquiring an additional 3,358 shares during the period. Barclays PLC boosted its stake in shares of Waldencast by 15.1% in the fourth quarter. Barclays PLC now owns 37,342 shares of the company's stock worth $150,000 after acquiring an additional 4,906 shares during the period. Northern Trust Corp boosted its stake in shares of Waldencast by 4.1% in the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company's stock worth $674,000 after acquiring an additional 6,640 shares during the period. Rhumbline Advisers boosted its stake in shares of Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock worth $185,000 after acquiring an additional 8,151 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Waldencast by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock worth $369,000 after acquiring an additional 8,600 shares during the period. Institutional investors own 41.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WALD. Industrial Alliance Securities set a $5.00 price objective on Waldencast in a research report on Tuesday, April 22nd. Telsey Advisory Group reduced their price objective on Waldencast from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Canaccord Genuity Group reduced their price objective on Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Wall Street Zen lowered Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.11.

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.