e.l.f. Beauty (ELF) on Thursday disputed a report by short seller Muddy Waters accusing it of reporting "inflated revenue and profits."

The company said Muddy Waters allegations that it was manipulating import data to disguise insufficient sales were "without merit" and based on "incomplete data and flawed assumptions."

The company said Muddy Waters was attempting to negatively impact its share price "for its own benefit and at the expense of all other e.l.f. Beauty shareholders."

e.l.f. Beauty shares were 0.8% higher in premarket trading.

Price: 120.82, Change: +1.82, Percent Change: +1.53