Short Interest in Waldencast plc (NASDAQ:WALD) Increases By 20.4%

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Milestones Administradora de Recursos Ltda. grew its stake in shares of Waldencast by 10.0% during the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock worth $8,008,000 after purchasing an additional 200,000 shares during the period. McAdam LLC bought a new position in Waldencast during the third quarter worth about $62,000. Bleakley Financial Group LLC grew its position in shares of Waldencast by 75.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares during the period. Simplicity Wealth LLC increased its stake in shares of Waldencast by 416.2% in the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after acquiring an additional 62,148 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Waldencast in the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

Waldencast Price Performance

Shares of WALD traded up $0.27 on Monday, reaching $3.76. 20,491 shares of the company’s stock were exchanged, compared to its average volume of 135,721. The business has a 50 day moving average price of $3.54 and a two-hundred day moving average price of $3.89. Waldencast has a 12 month low of $2.40 and a 12 month high of $12.00. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21.

Wall Street Analysts Forecast Growth

WALD has been the topic of several recent analyst reports. DA Davidson lifted their price target on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price objective on shares of Waldencast in a research note on Wednesday, October 9th. Canaccord Genuity Group started coverage on shares of Waldencast in a research report on Friday. They issued a “buy” rating and a $5.00 price target for the company. Finally, Canaccord Genuity Group began coverage on shares of Waldencast in a research note on Friday. They set a “buy” rating and a $5.00 price target for the company.

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.