European Wax Center, Inc. (NASDAQ:EWCZ) Short Interest Update

European Wax Center, Inc. (NASDAQ:EWCZ) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,990,000 shares, an increase of 5.3% from the December 31st total of 1,890,000 shares. Based on an average daily volume of 805,700 shares, the days-to-cover ratio is presently 2.5 days. Approximately 6.4% of the shares of the company are short sold.

European Wax Center Trading Up 1.2 %

NASDAQ EWCZ opened at $6.78 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The stock’s 50-day simple moving average is $6.25 and its two-hundred day simple moving average is $6.79. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.83. The company has a market capitalization of $386.07 million, a price-to-earnings ratio of 29.48, a PEG ratio of 1.71 and a beta of 0.95.

Insider Activity at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the transaction, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On European Wax Center

Several institutional investors have recently modified their holdings of the company. Algert Global LLC purchased a new stake in European Wax Center in the second quarter worth approximately $135,000. SG Americas Securities LLC purchased a new stake in shares of European Wax Center in the 3rd quarter valued at $93,000. Royce & Associates LP purchased a new stake in shares of European Wax Center in the 3rd quarter valued at $108,000. Aigen Investment Management LP bought a new position in shares of European Wax Center during the 3rd quarter valued at $114,000. Finally, Creative Planning raised its position 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 purchasing an additional 9,044 shares during the period. 82.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $9.00 to $7.00 in a research report on Monday, January 6th. Morgan Stanley restated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price target on shares of European Wax Center in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.64.

European Wax Center Company Profile

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.