Short Interest in Waldencast plc (NASDAQ:WALD) Declines By 35.1%

Waldencast plc (NASDAQ:WALD - Get Free Report) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 439,900 shares, a decrease of 35.1% from the October 31st total of 678,200 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 210,100 shares, the short-interest ratio is presently 2.1 days.

Waldencast Stock Performance

Shares of WALD traded down $0.01 during midday trading on Thursday, hitting $3.29. The stock had a trading volume of 105,729 shares, compared to its average volume of 89,628. The business has a 50-day simple moving average of $3.53 and a two-hundred day simple moving average of $3.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. Waldencast has a fifty-two week low of $2.40 and a fifty-two week high of $12.00.

Institutional Trading of Waldencast

A number of hedge funds have recently made changes to their positions in WALD. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Waldencast by 293.9% in 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 stake in shares of Waldencast in the second quarter worth approximately $37,000. Catalina Capital Group LLC purchased a new stake in shares of Waldencast in the third quarter worth approximately $58,000. McAdam LLC purchased a new stake in shares of Waldencast in the third quarter worth approximately $62,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Waldencast in the second quarter worth approximately $85,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Waldencast from $6.50 to $7.25 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Canaccord Genuity Group raised their target price on shares of Waldencast from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. 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. Finally, Canaccord Genuity Group assumed coverage on shares of Waldencast in a report on Friday, October 25th. They issued a "buy" rating and a $5.00 target price 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.