Waldencast plc (NASDAQ:WALD) Sees Large Growth in Short Interest

Waldencast plc (NASDAQ:WALD - Get Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 370,300 shares, an increase of 27.1% from the January 15th total of 291,400 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 95,300 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Trading of Waldencast

Large investors have recently made changes to their positions in the company. Milestones Administradora de Recursos Ltda. raised its holdings in Waldencast by 10.0% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company's stock valued at $8,008,000 after buying an additional 200,000 shares during the last quarter. Amitell Capital Pte Ltd bought a new position in shares of Waldencast during the fourth quarter valued at $780,000. Northern Trust Corp lifted its holdings in shares of Waldencast by 4.1% during the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company's stock worth $674,000 after purchasing an additional 6,640 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Waldencast by 116.3% in the fourth quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company's stock worth $376,000 after purchasing an additional 50,311 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Waldencast by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock valued at $369,000 after purchasing an additional 8,600 shares during the period. Institutional investors and hedge funds own 41.97% of the company's stock.

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Waldencast Price Performance

WALD stock traded down $0.13 during midday trading on Monday, reaching $3.07. The company had a trading volume of 48,218 shares, compared to its average volume of 78,013. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $2.40 and a 1-year high of $8.35. The stock has a 50 day moving average price of $3.48 and a 200-day moving average price of $3.42.

Analyst Ratings Changes

WALD has been the subject of a number of research reports. 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 research note on Friday, November 22nd. Telsey Advisory Group restated an "outperform" rating and set a $6.00 price objective on shares of Waldencast in a research report on Monday, November 18th. TD Cowen initiated coverage on Waldencast in a research note on Monday, December 16th. They set a "hold" rating and a $4.30 target price on the stock. DA Davidson boosted their price target on Waldencast from $7.25 to $7.50 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group initiated coverage on shares of Waldencast in a research report on Friday, October 25th. They issued a "buy" rating and a $5.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Waldencast 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.