Short Interest in Waldencast PLC (NASDAQ:WALD) Drops By 84.6%

Waldencast PLC (NASDAQ:WALD) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 163,296 shares, a decline of 84.6% from the June 15th total of 1,062,548 shares. Based on an average daily trading volume, of 871,694 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Waldencast Trading Down 3.5%

Shares of WALD stock traded down $0.06 during trading hours on Monday, reaching $1.67. 290,206 shares of the company’s stock were exchanged, compared to its average volume of 713,561. Waldencast has a fifty-two week low of $0.72 and a fifty-two week high of $3.22. The business has a fifty day moving average price of $1.57 and a 200-day moving average price of $1.51. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29.

Analysts Set New Price Targets

WALD has been the subject of several recent analyst reports. Wall Street Zen raised shares of Waldencast to a “hold” rating in a report on Saturday, May 30th. Telsey Advisory Group dropped their target price on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Monday, March 16th. Weiss Ratings raised shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on shares of Waldencast from $2.00 to $3.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.33.

Hedge Funds Weigh In On Waldencast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in Waldencast in the 1st quarter valued at $77,000. Rhumbline Advisers increased its holdings 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. Geode Capital Management LLC raised its position 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 buying an additional 224,905 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Waldencast during the second quarter valued at about $26,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Waldencast by 57.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after buying an additional 8,485 shares during the period. Institutional investors own 41.97% of the company’s stock.

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.