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

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

Analyst Ratings Changes

Several analysts recently commented on the stock. DA Davidson decreased their price target on shares of Waldencast from $15.50 to $6.50 and set a “buy” rating for the company in a report on Tuesday, May 28th. Telsey Advisory Group restated an “outperform” rating and set a $8.00 price target on shares of Waldencast in a report on Tuesday, May 21st.

Hedge Funds Weigh In On Waldencast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC bought a new position in Waldencast during the first quarter valued at approximately $142,000. Catalina Capital Group LLC bought a new position in shares of Waldencast in the first quarter valued at approximately $73,000. Norden Group LLC bought a new position in shares of Waldencast in the first quarter valued at approximately $92,000. Simplicity Wealth LLC bought a new position in shares of Waldencast in the first quarter valued at approximately $142,000. Finally, Zeno Equity Partners LLP raised its position in shares of Waldencast by 5.4% in the first quarter. Zeno Equity Partners LLP now owns 15,332,933 shares of the company’s stock valued at $99,664,000 after purchasing an additional 780,000 shares during the period. Institutional investors own 41.97% of the company’s stock.

Waldencast Trading Down 8.4 %

Shares of WALD opened at $3.59 on Friday. The firm’s 50 day moving average price is $4.48 and its 200 day moving average price is $6.75. 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 twelve month low of $3.54 and a twelve month high of $12.00.

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.