Waldencast plc (NASDAQ:WALD) Short Interest Up 20.4% in October

Waldencast plc (NASDAQ:WALD) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 710,500 shares, a growth of 20.4% from the September 30th total of 590,300 shares. Based on an average daily volume of 210,500 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research report on Wednesday, October 9th. Canaccord Genuity Group started coverage on Waldencast in a research report on Friday. They set a “buy” rating and a $5.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Waldencast in a report on Friday. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, DA Davidson increased their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

Hedge Funds Weigh In On Waldencast

Several hedge funds and other institutional investors have recently made changes to their positions in WALD. Norden Group LLC acquired a new stake in shares of Waldencast during the 1st quarter worth about $92,000. Catalina Capital Group LLC bought a new position in Waldencast during the first quarter worth about $73,000. Bleakley Financial Group LLC bought a new position in Waldencast during the first quarter worth about $142,000. Renaissance Technologies LLC acquired a new stake in Waldencast in the 2nd quarter worth about $239,000. Finally, Marshall Wace LLP bought a new stake in Waldencast in the 2nd quarter valued at about $37,000. 41.97% of the stock is owned by institutional investors.

Waldencast Stock Performance

NASDAQ WALD traded up $0.27 during trading hours on Monday, hitting $3.76. 20,491 shares of the company traded hands, compared to its average volume of 135,721. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00. The business’s 50-day moving average is $3.54 and its 200-day moving average is $3.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

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.