Waldencast PLC (NASDAQ:WALD) Short Interest Update

Waldencast PLC (NASDAQ:WALD) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 58,897 shares, a drop of 79.2% from the July 30th total of 282,629 shares. Based on an average daily volume of 225,077 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WALD. Stoic Point Capital Management LLC increased its position in Waldencast by 17.1% during the 1st quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company’s stock worth $1,555,000 after purchasing an additional 239,000 shares in the last quarter. UBS Group AG boosted its holdings in Waldencast by 466.2% in the third quarter. UBS Group AG now owns 838,536 shares of the company’s stock valued at $1,660,000 after acquiring an additional 690,441 shares during the last quarter. Geode Capital Management LLC raised its holdings in Waldencast by 62.2% in the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after buying an additional 224,905 shares during the period. Beartown Capital Management LLC acquired a new position in shares of Waldencast during the 4th quarter valued at $564,000. Finally, Bank of New York Mellon Corp raised its position in Waldencast by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock valued at $101,000 after purchasing an additional 10,728 shares during the period. Institutional investors and hedge funds own 41.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WALD. Canaccord Genuity Group increased 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. Wall Street Zen upgraded shares of Waldencast to a “hold” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings upgraded shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Two research 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. According to MarketBeat, Waldencast has an average rating of “Hold” and an average price target of $2.33.

Waldencast Stock Performance

NASDAQ:WALD opened at $1.36 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.70 and a quick ratio of 0.97. Waldencast has a 12-month low of $0.72 and a 12-month high of $3.22. The stock’s 50 day simple moving average is $1.58 and its 200-day simple moving average is $1.47.

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.