European Wax Center Target of Unusually High Options Trading (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) was the target of some unusual options trading on Wednesday. Stock investors acquired 8,172 call options on the stock. This represents an increase of 1,163% compared to the average volume of 647 call options.

Institutional Investors Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in European Wax Center by 52.3% during the third quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after purchasing an additional 7,709 shares during the period. Creative Planning boosted its holdings in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after buying an additional 9,044 shares during the period. Canada Pension Plan Investment Board boosted its holdings in European Wax Center by 15.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after buying an additional 11,300 shares during the period. Victory Capital Management Inc. grew its stake in European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after buying an additional 11,650 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in European Wax Center during the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Bank of America dropped their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Robert W. Baird reduced their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a report on Thursday, November 14th. Finally, Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, European Wax Center currently has an average rating of “Hold” and a consensus target price of $7.64.

European Wax Center Stock Performance

NASDAQ:EWCZ opened at $5.93 on Thursday. The company has a market capitalization of $337.65 million, a P/E ratio of 25.78, a P/E/G ratio of 2.42 and a beta of 1.11. The business has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $8.33. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 1 year low of $4.80 and a 1 year high of $16.07.

About European Wax Center

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.