Waldencast plc (NASDAQ:WALD) Short Interest Down 35.1% in November

Waldencast plc (NASDAQ:WALD) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 439,900 shares, a decrease of 35.1% from the October 31st total of 678,200 shares. Based on an average daily trading volume, of 210,100 shares, the short-interest ratio is currently 2.1 days. Approximately 1.9% of the shares of the company are sold short.

Analysts Set New Price Targets

WALD has been the topic of a number of recent analyst reports. DA Davidson upped their price objective on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Canaccord Genuity Group upped their price target on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Canaccord Genuity Group began coverage on shares of Waldencast in a research note on Friday, October 25th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of Waldencast in a research report on Monday, November 18th.

Hedge Funds Weigh In On Waldencast

Several hedge funds have recently added to or reduced their stakes in WALD. Milestones Administradora de Recursos Ltda. lifted its holdings in shares of Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after purchasing an additional 200,000 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of Waldencast by 416.2% during the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock worth $281,000 after purchasing an additional 62,148 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Waldencast in the 2nd quarter valued at approximately $239,000. Barclays PLC grew its holdings in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after buying an additional 24,355 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in Waldencast by 75.2% during the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares in the last quarter. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

Waldencast Stock Performance

Shares of WALD stock opened at $3.29 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. Waldencast has a fifty-two week low of $2.40 and a fifty-two week high of $12.00. The business has a fifty day simple moving average of $3.53 and a 200-day simple moving average of $3.61.

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.