Waldencast plc (NASDAQ:WALD) Short Interest Update

Waldencast plc (NASDAQ:WALD) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 370,300 shares, an increase of 27.1% from the January 15th total of 291,400 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 95,300 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Trading of Waldencast

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after purchasing an additional 3,358 shares in the last quarter. Barclays PLC grew 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 valued at $150,000 after buying an additional 4,906 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Waldencast by 293.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after buying an additional 5,114 shares in the last quarter. Northern Trust Corp increased its holdings in Waldencast by 4.1% during the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company’s stock worth $674,000 after buying an additional 6,640 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Waldencast by 10.3% during 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 in the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.

Waldencast Trading Down 4.1 %

NASDAQ:WALD traded down $0.13 on Friday, hitting $3.07. 48,218 shares of the company’s stock were exchanged, compared to its average volume of 78,013. The firm has a 50-day moving average price of $3.48 and a 200-day moving average price of $3.42. Waldencast has a 52 week low of $2.40 and a 52 week high of $8.35. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WALD shares. DA Davidson increased their price objective on shares of Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group upped their target price on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. TD Cowen began coverage on Waldencast in a research note on Monday, December 16th. They issued a “hold” rating and a $4.30 price target on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research report on Monday, November 18th. Finally, Canaccord Genuity Group began coverage on Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.76.

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.