European Wax Center, Inc. (NASDAQ:EWCZ) Sees Significant Growth in Short Interest

European Wax Center, Inc. (NASDAQ:EWCZ) saw a large growth in short interest in 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. Approximately 6.4% of the shares of the company are sold short. Based on an average daily volume of 805,700 shares, the short-interest ratio is presently 2.5 days.

Insider Transactions at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction dated 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 owns 29,262 shares in the company, valued at approximately $171,182.70. This trade 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 link. Company insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of European Wax Center by 12.3% in the fourth 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 4th quarter valued at about $637,000. Barclays PLC lifted its position in 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 buying an additional 44,376 shares during the last quarter. Geode Capital Management LLC boosted its stake in European Wax Center by 3.9% in the third 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in European Wax Center during the third quarter valued at approximately $451,000. 82.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EWCZ has been the subject of a number of research reports. Piper Sandler downgraded shares of 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 report on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a report on Friday, November 15th. Finally, Telsey Advisory Group restated 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.64.

European Wax Center Trading Up 0.2 %

NASDAQ:EWCZ opened at $6.36 on Tuesday. European Wax Center has a 1 year low of $4.80 and a 1 year high of $15.95. The stock’s fifty day moving average price is $6.14 and its two-hundred day moving average price is $7.01. 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 company 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.

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.