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

Waldencast plc (NASDAQ:WALD) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 293,300 shares, a decline of 32.0% from the December 15th total of 431,300 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 87,800 shares, the days-to-cover ratio is currently 3.3 days.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. raised its stake 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 buying an additional 5,114 shares during the period. Marshall Wace LLP bought a new stake in Waldencast during the 2nd quarter worth approximately $37,000. Catalina Capital Group LLC purchased a new position in Waldencast during the third quarter valued at approximately $58,000. McAdam LLC purchased a new position in Waldencast during the third quarter valued at approximately $62,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Waldencast in the second quarter worth $85,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WALD has been the subject of a number of research analyst reports. Canaccord Genuity Group started coverage on shares of Waldencast in a research note on Friday, October 25th. They issued a “buy” rating and a $5.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. TD Cowen initiated coverage on Waldencast in a report on Monday, December 16th. They set a “hold” rating and a $4.30 price target on the stock. DA Davidson lifted their price objective on Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.76.

Waldencast Stock Performance

Shares of Waldencast stock opened at $3.07 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $2.40 and a 1-year high of $9.87. The company’s fifty day simple moving average is $3.49 and its 200-day simple moving average is $3.43.

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.