Waldencast PLC (NASDAQ:WALD) Short Interest Update
by Renee Jackson · The Cerbat GemWaldencast PLC (NASDAQ:WALD – Get Free Report) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 4,221,729 shares, a growth of 328.6% from the April 15th total of 984,965 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 4,269,270 shares, the short-interest ratio is presently 1.0 days.
Institutional Investors Weigh In On Waldencast
Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new position in Waldencast during the second quarter valued at $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Waldencast by 57.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock worth $57,000 after purchasing an additional 8,485 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Waldencast during the 4th quarter worth about $46,000. Covestor Ltd raised its position in shares of Waldencast by 98,716.0% during the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock worth $49,000 after purchasing an additional 24,679 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Waldencast in the 1st quarter valued at about $77,000. Institutional investors and hedge funds own 41.97% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Weiss Ratings upgraded Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Canaccord Genuity Group dropped their price objective on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Jefferies Financial Group began coverage on shares of Waldencast in a research note on Wednesday, January 14th. They issued a “buy” rating and a $2.00 target price for the company. Finally, Telsey Advisory Group dropped their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.00.
Check Out Our Latest Stock Analysis on Waldencast
Waldencast Price Performance
WALD stock traded down $0.05 during mid-day trading on Wednesday, reaching $1.66. 233,067 shares of the company’s stock were exchanged, compared to its average volume of 703,948. 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 12-month low of $0.72 and a 12-month high of $3.22. The stock’s 50 day moving average is $1.20 and its 200 day moving average is $1.66.
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.