Short Interest in European Wax Center, Inc. (NASDAQ:EWCZ) Declines By 5.7%

European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 2,140,000 shares, a decline of 5.7% from the October 31st total of 2,270,000 shares. Based on an average daily volume of 646,400 shares, the short-interest ratio is presently 3.3 days. Approximately 6.7% of the company's stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EWCZ. FMR LLC increased its stake in 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 buying an additional 428,280 shares during the last quarter. Marshall Wace LLP bought a new stake in European Wax Center during the second quarter worth $3,274,000. Landscape Capital Management L.L.C. purchased a new position in European Wax Center in the third quarter worth $1,231,000. Millennium Management LLC grew its stake in European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company's stock valued at $5,352,000 after purchasing an additional 164,688 shares during the period. Finally, Massachusetts Financial Services Co. MA increased 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 valued at $22,675,000 after purchasing an additional 155,875 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EWCZ shares. Truist Financial cut their price objective on shares of European Wax Center from $16.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Bank of America decreased their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. Citigroup cut European Wax Center from a "buy" rating to a "neutral" rating and cut their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Morgan Stanley restated an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Finally, Robert W. Baird dropped their price objective on shares of European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.64.

European Wax Center Stock Up 4.6 %

NASDAQ:EWCZ traded up $0.27 during trading hours on Tuesday, hitting $6.10. 2,313,481 shares of the company traded hands, compared to its average volume of 720,195. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market cap of $347.33 million, a PE ratio of 26.52, a PEG ratio of 2.23 and a beta of 1.01. The firm's 50-day simple moving average is $6.84 and its 200-day simple moving average is $8.18. European Wax Center has a one year low of $4.80 and a one year high of $16.07.

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.