Waldencast plc (NASDAQ:WALD) Short Interest Update

Waldencast plc (NASDAQ:WALD) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 293,300 shares, a decrease of 32.0% from the December 15th total of 431,300 shares. Based on an average trading volume of 87,800 shares, the short-interest ratio is currently 3.3 days. Currently, 1.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Waldencast

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Waldencast by 293.9% in the 3rd 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. Marshall Wace LLP acquired a new stake in shares of Waldencast in the second quarter valued at approximately $37,000. Bleakley Financial Group LLC grew its position in shares of Waldencast by 75.2% during the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after acquiring an additional 11,288 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Waldencast by 52.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock valued at $157,000 after acquiring an additional 14,803 shares during the period. Finally, Catalina Capital Group LLC purchased a new stake in Waldencast in the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Stock Down 0.6 %

NASDAQ WALD opened at $3.06 on Friday. The firm’s fifty day moving average price is $3.48 and its 200 day moving average price is $3.43. Waldencast has a 12 month low of $2.40 and a 12 month high of $9.63. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Analyst Ratings Changes

WALD has been the topic of several recent research reports. Canaccord Genuity Group began coverage on shares of Waldencast in a research note on Friday, October 25th. They set a “buy” rating and a $5.00 target price on the stock. DA Davidson upped their price objective on Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a report on Monday, November 18th. TD Cowen assumed coverage on Waldencast in a research note on Monday, December 16th. They set a “hold” rating and a $4.30 target price for the company. Finally, Canaccord Genuity Group increased their price target on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.76.

About Waldencast

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.