Waldencast plc (NASDAQ:WALD) Short Interest Down 35.1% in November

Waldencast plc (NASDAQ:WALD) saw a significant 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. Based on an average daily volume of 210,100 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.9% of the shares of the stock are short sold.

Waldencast Trading Up 2.7 %

NASDAQ:WALD opened at $3.38 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The stock’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.60. Waldencast has a 52 week low of $2.40 and a 52 week high of $12.00.

Hedge Funds Weigh In On Waldencast

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Waldencast in the 2nd quarter valued at approximately $239,000. Marshall Wace LLP purchased a new position in shares of Waldencast in the 2nd quarter valued at about $37,000. Cubist Systematic Strategies LLC purchased a new stake in Waldencast during the second quarter worth approximately $85,000. Simplicity Wealth LLC increased its stake in Waldencast by 416.2% in the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after purchasing an additional 62,148 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Waldencast by 75.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares during the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WALD shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Waldencast in a research note on Monday, November 18th. Canaccord Genuity Group increased their price objective on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. DA Davidson upped their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Canaccord Genuity Group started 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.

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.