Waldencast PLC (NASDAQ:WALD) Short Interest Up 61.6% in March

Waldencast PLC (NASDAQ:WALD) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,205,249 shares, a growth of 61.6% from the February 26th total of 745,941 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 69,706 shares, the days-to-cover ratio is presently 17.3 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WALD shares. Jefferies Financial Group started coverage on Waldencast in a research note on Wednesday, January 14th. They issued a “buy” rating and a $2.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, January 21st. Canaccord Genuity Group cut their price objective on Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, Telsey Advisory Group reduced their price objective on Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Waldencast presently has a consensus rating of “Hold” and a consensus target price of $3.20.

Institutional Investors Weigh In On Waldencast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Waldencast in the 1st quarter valued at about $77,000. Rhumbline Advisers grew its holdings in Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock worth $185,000 after acquiring an additional 8,151 shares during the period. Geode Capital Management LLC grew its holdings in Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after acquiring an additional 224,905 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Waldencast during the second quarter valued at approximately $26,000. Finally, Invesco Ltd. purchased a new position in Waldencast during the second quarter valued at approximately $26,000. 41.97% of the stock is owned by institutional investors and hedge funds.

Waldencast Stock Performance

Shares of Waldencast stock opened at $0.98 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.70 and a quick ratio of 0.97. The firm has a fifty day moving average price of $1.62 and a 200 day moving average price of $1.85. Waldencast has a 1 year low of $0.98 and a 1 year high of $3.22.

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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.