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

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction 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 owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors have recently made changes to their positions in EWCZ. SG Americas Securities LLC bought a new stake in European Wax Center in the 3rd quarter valued at $93,000. Royce & Associates LP bought a new position in European Wax Center during the third quarter worth about $108,000. Aigen Investment Management LP acquired a new stake in European Wax Center in the 3rd quarter worth about $114,000. Algert Global LLC acquired a new position in shares of European Wax Center during the 2nd quarter worth approximately $135,000. Finally, Creative Planning grew its position in shares of European Wax Center by 72.6% during the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after purchasing an additional 9,044 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

European Wax Center Trading Down 0.7 %

EWCZ stock opened at $6.70 on Tuesday. The stock has a market cap of $381.50 million, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. The company has a fifty day moving average price of $6.23 and a two-hundred day moving average price of $6.81. European Wax Center has a one year low of $4.80 and a one year high of $15.83. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

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.