Waldencast PLC (NASDAQ:WALD) Short Interest Up 1,643.1% in July

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) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,140,000 shares, anincreaseof1,643.1% from the June 30th total of 65,400 shares. Approximately9.7% of the company's shares are short sold. 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 company's shares are short sold.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of WALD. JPMorgan Chase & Co. raised its position in shares of Waldencast by 116.3% during the fourth quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company's stock worth $376,000 after purchasing an additional 50,311 shares during the period. Wells Fargo & Company MN raised its holdings in Waldencast by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock worth $59,000 after buying an additional 3,358 shares during the period. Renaissance Technologies LLC raised its holdings in Waldencast by 10.3% during the 4th quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock worth $369,000 after buying an additional 8,600 shares during the period. Amitell Capital Pte Ltd acquired a new stake in shares of Waldencast during the fourth quarter worth $780,000. Finally, Barclays PLC raised its holdings in shares of Waldencast by 15.1% during 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. Institutional investors and hedge funds own 41.97% of the company's stock.

Waldencast Trading Down 4.5%

Shares of Waldencast stock opened at $1.70 on Friday. Waldencast has a 12 month low of $1.68 and a 12 month high of $4.74. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21. The stock's fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.77.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Alliance Global Partners reissued a "buy" rating on shares of Waldencast in a research note on Thursday, May 15th. Canaccord Genuity Group cut their target price on Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Telsey Advisory Group cut their price target on shares of Waldencast from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Finally, Industrial Alliance Securities set a $5.00 price target on shares of Waldencast in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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