Waldencast PLC (NASDAQ:WALD) Short Interest Down 25.7% in January

Waldencast PLC (NASDAQ:WALD) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 596,028 shares, a drop of 25.7% from the December 31st total of 801,939 shares. Based on an average daily volume of 64,202 shares, the short-interest ratio is currently 9.3 days. Based on an average daily volume of 64,202 shares, the short-interest ratio is currently 9.3 days.

Analyst Ratings Changes

Several brokerages have recently weighed in on WALD. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Canaccord Genuity Group reduced their price objective on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Telsey Advisory Group cut Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a research report on Tuesday, November 25th. Finally, Jefferies Financial Group started coverage on Waldencast in a report on Wednesday, January 14th. They issued a “buy” rating and a $2.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Waldencast currently has an average rating of “Moderate Buy” and an average target price of $4.42.

Waldencast Price Performance

Shares of WALD stock opened at $1.90 on Tuesday. The business’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.91. Waldencast has a 12-month low of $1.45 and a 12-month high of $3.63. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32.

Waldencast (NASDAQ:WALD) last issued its quarterly earnings results on Monday, November 24th. The company reported ($0.69) earnings per share for the quarter. The business had revenue of $66.14 million during the quarter. As a group, analysts expect that Waldencast will post -0.14 earnings per share for the current year.

Institutional Trading of Waldencast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Waldencast by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after purchasing an additional 6,516 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock worth $185,000 after purchasing an additional 8,151 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Waldencast by 57.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after buying an additional 8,485 shares during the last quarter. Invesco Ltd. purchased a new stake in Waldencast in the second quarter valued at approximately $26,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Waldencast in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

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. 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.