Waldencast PLC (NASDAQ:WALD) Short Interest Up 61.6% in March

Key Points

• Short interest surged 61.6% in March to 1,205,249 shares as of March 13, representing 0.9% of shares outstanding and a high days-to-cover of 17.3 based on average daily volume.
• Waldencast shares are trading weakly—opening at $1.03—well below the 50‑day ($1.63) and 200‑day ($1.85) moving averages, with a 52‑week range of $1.00 to $3.22.
• Institutional buying has increased (41.97% institutional ownership) while analysts are mixed: several firms cut price targets to $2.00, Jefferies initiated a $2 buy, and the consensus rating is a Hold with a $3.20 target.

Waldencast PLC (NASDAQ:WALD - Get Free Report) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,205,249 shares, an increase of 61.6% from the February 26th total of 745,941 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 69,706 shares, the days-to-cover ratio is presently 17.3 days.

Waldencast Stock Performance

NASDAQ:WALD opened at $1.03 on Friday. The firm's 50-day moving average is $1.63 and its 200-day moving average is $1.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70. Waldencast has a 52-week low of $1.00 and a 52-week high of $3.22.

Hedge Funds Weigh In On Waldencast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beartown Capital Management LLC acquired a new position in Waldencast in the 4th quarter valued at approximately $564,000. Stoic Point Capital Management LLC acquired a new stake in shares of Waldencast during the 4th quarter worth approximately $2,628,000. Barclays PLC grew its holdings in shares of Waldencast by 11.0% during the 4th quarter. Barclays PLC now owns 66,337 shares of the company's stock worth $125,000 after purchasing an additional 6,587 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Waldencast by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 47,484 shares of the company's stock valued at $89,000 after purchasing an additional 15,014 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Waldencast by 264.2% during the fourth quarter. Deutsche Bank AG now owns 43,205 shares of the company's stock valued at $81,000 after purchasing an additional 31,341 shares during the period. 41.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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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