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

European Wax Center, Inc. (NASDAQ:EWCZ) saw unusually large options trading on Wednesday. Stock investors purchased 8,172 call options on the company. This represents an increase of approximately 1,163% compared to the average volume of 647 call options.

European Wax Center Trading Up 0.7 %

EWCZ opened at $5.93 on Thursday. European Wax Center has a one year low of $4.80 and a one year high of $16.07. 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 business has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $8.33. The firm has a market capitalization of $337.65 million, a price-to-earnings ratio of 25.78, a PEG ratio of 2.42 and a beta of 1.11.

Hedge Funds Weigh In On European Wax Center

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

Analyst Upgrades and Downgrades

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

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.