Waldencast plc (NASDAQ:WALD) Sees Significant Decrease in Short Interest

Waldencast plc (NASDAQ:WALD) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 312,000 shares, a decrease of 18.3% from the June 30th total of 382,100 shares. Based on an average daily volume of 140,700 shares, the short-interest ratio is presently 2.2 days. Approximately 1.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 target price on shares of Waldencast in a report on Tuesday, May 21st. DA Davidson reduced their price objective on Waldencast from $15.50 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, May 28th.

Institutional Trading of Waldencast

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new position in Waldencast during the first quarter worth about $73,000. Norden Group LLC purchased a new position in Waldencast during the first quarter worth about $92,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Waldencast by 44.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,226 shares of the company’s stock worth $178,000 after buying an additional 4,992 shares during the period. SG Americas Securities LLC lifted its position in Waldencast by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 19,705 shares of the company’s stock worth $216,000 after buying an additional 3,716 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in Waldencast during the first quarter worth about $142,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Waldencast Price Performance

Shares of NASDAQ:WALD opened at $3.36 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.71. Waldencast has a 52-week low of $3.08 and a 52-week high of $12.00. The stock’s fifty day simple moving average is $3.89 and its 200-day simple moving average is $5.65.

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.