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

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of a significant growth in short interest in 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 trading volume of 805,700 shares, the days-to-cover ratio is presently 2.5 days. Approximately 6.4% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the transaction, the director now directly owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of European Wax Center by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after acquiring an additional 155,875 shares in the last quarter. FMR LLC boosted its holdings in shares of European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares in the last quarter. Southpoint Capital Advisors LP increased its stake in shares of European Wax Center by 5.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock valued at $13,600,000 after purchasing an additional 100,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of European Wax Center by 3.9% during 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 in the last quarter. Finally, Millennium Management LLC lifted its position in shares of European Wax Center by 44.0% during the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after buying an additional 164,688 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Stock Performance

NASDAQ EWCZ traded up $0.01 during trading 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. European Wax Center has a 12 month low of $4.80 and a 12 month high of $15.95. The firm has a 50 day moving average price of $6.19 and a 200 day moving average price of $7.04. The firm has a market capitalization of $362.14 million, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $6.00 price objective on shares of European Wax Center in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.64.

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.