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

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

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Waldencast by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock worth $114,000 after buying an additional 6,516 shares during the last quarter. Barclays PLC increased its holdings in shares of Waldencast by 11.0% during the fourth quarter. Barclays PLC now owns 66,337 shares of the company’s stock worth $125,000 after buying an additional 6,587 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after acquiring an additional 8,151 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 acquiring an additional 8,485 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Waldencast in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

Waldencast Stock Performance

Shares of WALD stock opened at $1.03 on Friday. The stock’s fifty day simple moving average is $1.63 and its 200 day simple moving average is $1.85. Waldencast has a one year low of $1.00 and a one year high of $3.22. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WALD. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a report on Wednesday, January 21st. Canaccord Genuity Group decreased their target price on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Jefferies Financial Group initiated coverage on shares of Waldencast in a research note on Wednesday, January 14th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, Telsey Advisory Group dropped their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Monday, March 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.20.

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.