European Wax Center, Inc. (NASDAQ:EWCZ) Sees Large Increase in Short Interest

European Wax Center, Inc. (NASDAQ:EWCZ) was the target of a significant increase in short interest in 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. Approximately 6.4% of the company’s stock are short sold. Based on an average trading volume of 805,700 shares, the short-interest ratio is currently 2.5 days.

European Wax Center Price Performance

Shares of NASDAQ EWCZ opened at $6.78 on Wednesday. The company has a market capitalization of $386.07 million, a PE ratio of 29.48, a PEG ratio of 1.71 and a beta of 0.95. 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 moving average price is $6.25 and its 200-day moving average price is $6.79. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.83.

Insiders Place Their Bets

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction 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 transaction, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of European Wax Center during the 3rd quarter valued at approximately $93,000. Royce & Associates LP bought a new position in European Wax Center during the third quarter valued at $108,000. Aigen Investment Management LP purchased a new stake in European Wax Center in the third quarter worth $114,000. Algert Global LLC bought a new stake in shares of European Wax Center in the second quarter valued at $135,000. Finally, Creative Planning lifted its position in shares of European Wax Center by 72.6% during the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after buying an additional 9,044 shares during the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

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