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

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,990,000 shares, a growth 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 presently 2.5 days. Currently, 6.4% of the company’s shares are sold short.

Insider Activity

In related 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 completion of the sale, the director now directly owns 29,262 shares in the company, valued at $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in European Wax Center by 12.3% during the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after acquiring an additional 1,690 shares during the period. Kanen Wealth Management LLC purchased a new position in shares of European Wax Center during the fourth quarter valued at approximately $637,000. Barclays PLC boosted its position in shares of European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after purchasing an additional 44,376 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock worth $5,582,000 after buying an additional 30,804 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in European Wax Center during the 3rd quarter valued at approximately $451,000. 82.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EWCZ has been the topic of several recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research note on Tuesday, January 14th. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.64.

European Wax Center Trading Up 0.2 %

NASDAQ EWCZ opened at $6.36 on Tuesday. The firm has a market capitalization of $362.14 million, a PE ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 0.95. The stock’s 50 day moving average is $6.14 and its 200 day moving average is $7.01. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.95. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

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.