Waldencast PLC (NASDAQ:WALD) Sees Significant Growth in Short Interest

Waldencast PLC (NASDAQ:WALD - Get Free Report) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 402,600 shares, a growth of 26.2% from the May 15th total of 318,900 shares. Based on an average daily volume of 96,300 shares, the days-to-cover ratio is currently 4.2 days. Approximately 3.4% of the company's shares are sold short.

Hedge Funds Weigh In On Waldencast

A number of institutional investors have recently modified their holdings of WALD. Charles Schwab Investment Management Inc. increased its position in shares of Waldencast by 16.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,895 shares of the company's stock worth $261,000 after acquiring an additional 9,130 shares during the period. JPMorgan Chase & Co. increased 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 acquiring an additional 50,311 shares during the period. Wells Fargo & Company MN increased its position in shares of Waldencast by 29.9% during 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. Renaissance Technologies LLC increased its holdings in Waldencast by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock valued at $369,000 after buying an additional 8,600 shares during the period. Finally, Amitell Capital Pte Ltd purchased a new position in Waldencast during the fourth quarter valued at approximately $780,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

Waldencast Stock Performance

Shares of NASDAQ:WALD remained flat at $2.25 during trading on Friday. 137,972 shares of the stock were exchanged, compared to its average volume of 131,600. The business's 50-day simple moving average is $2.52 and its two-hundred day simple moving average is $3.00. Waldencast has a fifty-two week low of $1.98 and a fifty-two week high of $4.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.35.

Analysts Set New Price Targets

A number of research firms recently weighed in on WALD. Wall Street Zen lowered shares of Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Telsey Advisory Group reduced their price objective 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. DA Davidson reissued a "buy" rating and issued a $7.50 price objective on shares of Waldencast in a research report on Wednesday, March 19th. Canaccord Genuity Group reduced their price objective on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.11.

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.