European Wax Center, Inc. (NASDAQ:EWCZ) Short Interest Down 7.9% in November

European Wax Center, Inc. (NASDAQ:EWCZ) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,970,000 shares, a decline of 7.9% from the November 15th total of 2,140,000 shares. Currently, 6.4% of the shares of the company are short sold. Based on an average daily volume of 743,500 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Algert Global LLC boosted its stake in European Wax Center by 720.4% during the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after buying an additional 97,590 shares during the period. Millennium Management LLC boosted its holdings in shares of European Wax Center by 44.0% in the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after acquiring an additional 164,688 shares during the period. FMR LLC increased its position in European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after acquiring an additional 428,280 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of European Wax Center by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after acquiring an additional 155,875 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of European Wax Center during the third quarter worth about $754,000. 82.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Bank of America reduced their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.64.

European Wax Center Stock Performance

EWCZ opened at $5.80 on Wednesday. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07. The company has a market cap of $330.27 million, a price-to-earnings ratio of 25.22, a PEG ratio of 2.35 and a beta of 1.01. The firm’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $7.82. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

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.