Short Interest in Waldencast plc (NASDAQ:WALD) Drops By 25.2%

Waldencast plc (NASDAQ:WALD) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 385,000 shares, a decrease of 25.2% from the May 31st total of 514,400 shares. Based on an average daily trading volume, of 92,700 shares, the short-interest ratio is presently 4.2 days. Approximately 1.7% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts have issued reports on WALD shares. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 price objective on shares of Waldencast in a research report on Tuesday, May 21st. DA Davidson lowered their price target on Waldencast from $15.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, May 28th.

Hedge Funds Weigh In On Waldencast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC purchased a new position in shares of Waldencast during the 1st quarter worth approximately $142,000. Catalina Capital Group LLC purchased a new stake in Waldencast in the first quarter worth $73,000. Norden Group LLC bought a new position in Waldencast in the first quarter worth $92,000. Simplicity Wealth LLC purchased a new position in Waldencast during the first quarter valued at $142,000. Finally, Zeno Equity Partners LLP boosted its holdings in shares of Waldencast by 5.4% during the 1st quarter. Zeno Equity Partners LLP now owns 15,332,933 shares of the company’s stock valued at $99,664,000 after buying an additional 780,000 shares in the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Trading Down 8.4 %

Waldencast stock traded down $0.33 during mid-day trading on Friday, reaching $3.59. 493,866 shares of the company traded hands, compared to its average volume of 83,884. The company has a quick ratio of 0.82, a current ratio of 1.71 and a debt-to-equity ratio of 0.22. Waldencast has a 52-week low of $3.54 and a 52-week high of $12.00. The firm’s 50 day moving average price is $4.48 and its 200 day moving average price is $6.78.

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.