Short Interest in Waldencast plc (NASDAQ:WALD) Grows By 27.1%

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

Institutional Investors Weigh In On Waldencast

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. lifted 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 purchasing an additional 5,114 shares during the period. SG Americas Securities LLC purchased a new position in Waldencast in the fourth quarter valued at about $42,000. Wells Fargo & Company MN increased its holdings 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 buying an additional 3,358 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Waldencast during the 3rd quarter valued at approximately $58,000. Finally, McAdam LLC purchased a new stake in shares of Waldencast during the 3rd quarter worth approximately $62,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Waldencast Trading Down 5.0 %

Shares of WALD stock opened at $3.20 on Friday. The business’s fifty day moving average price is $3.48 and its 200 day moving average price is $3.42. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $2.40 and a 1-year high of $8.35.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group assumed coverage on Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price objective for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price target on shares of Waldencast in a report on Monday, November 18th. DA Davidson boosted their price objective on shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, December 4th. TD Cowen began coverage on shares of Waldencast in a research note on Monday, December 16th. They issued a “hold” rating and a $4.30 target price for the company. Finally, Canaccord Genuity Group lifted their target price on shares of Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.76.

Waldencast Company Profile

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.