Short Interest in Waldencast plc (NASDAQ:WALD) Decreases By 32.0%

Waldencast plc (NASDAQ:WALD - Get Free Report) was the recipient of a large decrease in short interest in the month of 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 daily trading volume, of 87,800 shares, the short-interest ratio is currently 3.3 days. Currently, 1.2% of the company's stock are short sold.

Institutional Investors Weigh In On Waldencast

Several institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. raised its holdings in Waldencast by 293.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company's stock worth $25,000 after purchasing an additional 5,114 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Waldencast in the 2nd quarter valued at $37,000. Catalina Capital Group LLC acquired a new stake in Waldencast during the 3rd quarter worth $58,000. McAdam LLC purchased a new stake in Waldencast in the third quarter valued at $62,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Waldencast in the second quarter valued at $85,000. Hedge funds and other institutional investors own 41.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $6.00 price target on shares of Waldencast in a research note on Monday, November 18th. DA Davidson boosted their target price on Waldencast from $7.25 to $7.50 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price target on Waldencast from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. TD Cowen initiated coverage on Waldencast in a research note on Monday, December 16th. They issued a "hold" rating and a $4.30 price objective for the company. Finally, Canaccord Genuity Group assumed 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.76.

Waldencast Stock Performance

Shares of NASDAQ:WALD traded up $0.01 on Wednesday, hitting $3.08. 45,952 shares of the company's stock were exchanged, compared to its average volume of 96,728. Waldencast has a 1-year low of $2.40 and a 1-year high of $9.87. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $3.49 and its 200 day moving average is $3.43.

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.