Waldencast plc (NASDAQ:WALD) Short Interest Update

Waldencast plc (NASDAQ:WALD) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 710,500 shares, an increase of 20.4% from the September 30th total of 590,300 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 210,500 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Canaccord Genuity Group initiated coverage on shares of Waldencast in a research note on Friday, October 25th. They issued a “buy” rating and a $5.00 price objective on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research note on Wednesday, October 9th. Canaccord Genuity Group assumed coverage on Waldencast in a report on Friday, October 25th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, DA Davidson increased their price target on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

Waldencast Price Performance

Waldencast stock opened at $3.95 on Wednesday. The stock’s 50 day moving average price is $3.58 and its 200 day moving average price is $3.85. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

Hedge Funds Weigh In On Waldencast

Several hedge funds have recently bought and sold shares of WALD. Marshall Wace LLP purchased a new position in shares of Waldencast in the second quarter valued at $37,000. McAdam LLC acquired a new stake in Waldencast in the 3rd quarter valued at about $62,000. Catalina Capital Group LLC purchased a new position in Waldencast during the 1st quarter valued at about $73,000. Cubist Systematic Strategies LLC acquired a new position in Waldencast during the second quarter worth about $85,000. Finally, Norden Group LLC purchased a new stake in shares of Waldencast in the first quarter valued at about $92,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

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.