Waldencast PLC (NASDAQ:WALD) Sees Significant Growth in Short Interest

Waldencast PLC (NASDAQ:WALD) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 207,036 shares, an increase of 374.1% from the August 31st total of 43,668 shares. Based on an average daily volume of 373,430 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WALD shares. Wall Street Zen raised Waldencast to a “hold” rating in a research report on Saturday, May 30th. Canaccord Genuity Group lifted their price objective on Waldencast from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.33.

Institutional Trading of Waldencast

Several hedge funds have recently modified their holdings of WALD. Citadel Advisors LLC purchased a new stake in Waldencast during the second quarter valued at $39,000. Bank of America Corp DE boosted its stake in shares of Waldencast by 32.2% during the first quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after purchasing an additional 10,396 shares during the period. Bank of New York Mellon Corp grew its stake in Waldencast by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock worth $101,000 after acquiring an additional 10,728 shares in the last quarter. Finally, Stoic Point Capital Management LLC boosted its holdings in shares of Waldencast by 17.1% in the first quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company’s stock valued at $1,555,000 after purchasing an additional 239,000 shares during the period. 41.97% of the stock is owned by hedge funds and other institutional investors.

Waldencast Price Performance

WALD stock opened at $1.03 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70. Waldencast has a 1-year low of $0.72 and a 1-year high of $3.22. The business has a 50 day simple moving average of $1.40 and a two-hundred day simple moving average of $1.39.

Waldencast Company Profile

Waldencast plc is a global beauty and wellness company that develops, acquires and operates consumer brands across skincare, cosmetics and related personal-care categories. Its portfolio has included Obagi Skincare, a dermatologist-focused skincare brand, and Milk Makeup, a color cosmetics brand known for makeup and skincare products.

The company’s products are designed for distribution through professional, specialty, mass-market and e-commerce channels. Waldencast serves consumers in multiple international markets through retail partners, digital commerce and professional skincare channels, although the availability of individual brands and products can vary by geography.

Waldencast was established as a beauty-focused platform and became a publicly traded company on Nasdaq in 2022 through a business combination with a special purpose acquisition company.