Short Interest in European Wax Center, Inc. (NASDAQ:EWCZ) Declines By 7.9%

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,970,000 shares, a decline of 7.9% from the November 15th total of 2,140,000 shares. Based on an average trading volume of 743,500 shares, the short-interest ratio is currently 2.6 days. Currently, 6.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Thursday, December 12th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Finally, Bank of America cut their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, European Wax Center has an average rating of “Hold” and an average target price of $7.64.

European Wax Center Stock Down 0.9 %

Shares of EWCZ traded down $0.05 during trading hours on Tuesday, hitting $5.80. The company had a trading volume of 716,956 shares, compared to its average volume of 719,136. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The company has a market capitalization of $330.27 million, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The company’s fifty day moving average price is $6.70 and its two-hundred day moving average price is $7.86.

Institutional Trading of European Wax Center

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of European Wax Center in the 3rd quarter worth $93,000. Royce & Associates LP purchased a new stake in European Wax Center in the third quarter valued at about $108,000. Aigen Investment Management LP acquired a new stake in European Wax Center in the third quarter worth about $114,000. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center during the second quarter worth about $127,000. Finally, Algert Global LLC acquired a new position in shares of European Wax Center during the second quarter valued at about $135,000. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.