Short Interest in European Wax Center, Inc. (NASDAQ:EWCZ) Grows By 5.3%

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

European Wax Center Price Performance

Shares of European Wax Center stock traded up $0.01 during trading hours on Monday, reaching $6.36. The company’s stock had a trading volume of 719,643 shares, compared to its average volume of 705,066. The firm has a 50 day moving average price of $6.19 and a 200-day moving average price of $7.04. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The stock has a market cap of $362.14 million, a P/E ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 0.95. European Wax Center has a one year low of $4.80 and a one year high of $15.95.

Analysts Set New Price Targets

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

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 that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the transaction, the director now directly owns 29,262 shares in the company, valued at $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in European Wax Center during the third quarter worth $93,000. Royce & Associates LP purchased a new stake in shares of European Wax Center in the third quarter valued at $108,000. Aigen Investment Management LP bought a new stake in shares of European Wax Center in the 3rd quarter worth about $114,000. Dark Forest Capital Management LP purchased a new position in shares of European Wax Center during the 2nd quarter worth about $127,000. Finally, Algert Global LLC bought a new position in European Wax Center during the 2nd quarter valued at about $135,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

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.