Short Interest in Waldencast PLC (NASDAQ:WALD) Decreases By 39.6%

Waldencast PLC (NASDAQ:WALD) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 801,939 shares, a decline of 39.6% from the December 15th total of 1,326,877 shares. Based on an average daily trading volume, of 73,685 shares, the short-interest ratio is currently 10.9 days. Based on an average daily trading volume, of 73,685 shares, the short-interest ratio is currently 10.9 days.

Waldencast Trading Down 0.6%

Shares of WALD stock traded down $0.01 during trading hours on Friday, hitting $1.64. 53,906 shares of the company were exchanged, compared to its average volume of 61,866. Waldencast has a one year low of $1.45 and a one year high of $4.10. The business’s 50-day simple moving average is $2.02 and its two-hundred day simple moving average is $1.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53.

Waldencast (NASDAQ:WALD) last announced its quarterly earnings data on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The business had revenue of $66.14 million during the quarter. On average, equities research analysts forecast that Waldencast will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Waldencast

Hedge funds have recently added to or reduced their stakes in the business. McAdam LLC bought a new stake in shares of Waldencast during the 2nd quarter valued at about $56,000. UBS Group AG boosted its stake 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 period. JPMorgan Chase & Co. boosted its stake in Waldencast by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after acquiring an additional 6,516 shares during the period. Geode Capital Management LLC grew its holdings in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after purchasing an additional 224,905 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock worth $185,000 after purchasing an additional 8,151 shares during the period. Institutional investors and hedge funds own 41.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WALD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, October 8th. Canaccord Genuity Group reduced their price target on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Jefferies Financial Group initiated coverage on Waldencast in a research note on Wednesday. They set a “buy” rating and a $2.00 price objective for the company. Finally, Telsey Advisory Group lowered Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a research report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Waldencast currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.42.

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. 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.