Short Interest in Waldencast PLC (NASDAQ:WALD) Declines By 25.7%

Waldencast PLC (NASDAQ:WALD) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 596,028 shares, a decline of 25.7% from the December 31st total of 801,939 shares. Based on an average trading volume of 64,202 shares, the days-to-cover ratio is presently 9.3 days. Based on an average trading volume of 64,202 shares, the days-to-cover ratio is presently 9.3 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WALD shares. Jefferies Financial Group started coverage on shares of Waldencast in a research report on Wednesday, January 14th. They issued a “buy” rating and a $2.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, January 21st. Telsey Advisory Group lowered shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group lowered their price objective on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WALD. JPMorgan Chase & Co. raised its stake in Waldencast by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after buying an additional 6,516 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Waldencast during the third quarter valued at $78,000. UBS Group AG raised its position in shares of Waldencast by 466.2% in the 3rd quarter. UBS Group AG now owns 838,536 shares of the company’s stock worth $1,660,000 after purchasing an additional 690,441 shares during the last quarter. Milestones Administradora de Recursos Ltda. boosted its stake in Waldencast by 10.3% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock worth $4,803,000 after purchasing an additional 225,677 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Waldencast by 98,716.0% in the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock worth $49,000 after purchasing an additional 24,679 shares in the last quarter. Institutional investors own 41.97% of the company’s stock.

Waldencast Trading Up 13.5%

WALD stock traded up $0.22 during mid-day trading on Friday, hitting $1.81. 194,502 shares of the stock were exchanged, compared to its average volume of 53,301. The business has a fifty day moving average price of $1.94 and a 200 day moving average price of $1.92. Waldencast has a 12 month low of $1.45 and a 12 month high of $3.63. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.32.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings results on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The business had revenue of $66.14 million for the quarter. As a group, equities analysts anticipate that Waldencast will post -0.14 EPS for the current fiscal year.

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.