Waldencast plc (NASDAQ:WALD) Sees Large Drop in Short Interest

Waldencast plc (NASDAQ:WALD) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 312,000 shares, a drop of 18.3% from the June 30th total of 382,100 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 140,700 shares, the short-interest ratio is presently 2.2 days.

Waldencast Stock Performance

Shares of NASDAQ:WALD opened at $3.30 on Tuesday. The stock’s 50-day moving average is $3.87 and its 200 day moving average is $5.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.71. Waldencast has a 1 year low of $3.08 and a 1 year high of $12.00.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and set a $8.00 price target on shares of Waldencast in a research report on Tuesday, May 21st. DA Davidson lowered 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.

Institutional Investors Weigh In On Waldencast

A number of large investors have recently made changes to their positions in WALD. Catalina Capital Group LLC purchased a new stake in Waldencast in the first quarter worth $73,000. Norden Group LLC bought a new stake in shares of Waldencast during the 1st quarter valued at about $92,000. Bleakley Financial Group LLC purchased a new position in shares of Waldencast during the first quarter valued at about $142,000. Simplicity Wealth LLC purchased a new position in shares of Waldencast during the first quarter valued at about $142,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Waldencast by 44.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,226 shares of the company’s stock worth $178,000 after buying an additional 4,992 shares in the last quarter. 41.97% of the stock is currently owned by institutional investors.

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.