Waystar Holding Corp. (NASDAQ:WAY) Short Interest Down 20.5% in August

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 937,600 shares, a decline of 20.5% from the August 15th total of 1,180,000 shares. Currently, 1.3% of the company's shares are sold short. Based on an average daily trading volume, of 813,000 shares, the short-interest ratio is presently 1.2 days.

Waystar Price Performance

Shares of Waystar stock traded up $0.44 during trading on Friday, reaching $26.83. The stock had a trading volume of 511,862 shares, compared to its average volume of 391,237. The business's fifty day simple moving average is $24.38. Waystar has a 52 week low of $20.26 and a 52 week high of $28.57.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.25 million. During the same period last year, the company earned ($0.07) EPS. The company's revenue was up 19.6% compared to the same quarter last year. On average, equities analysts expect that Waystar will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Waystar

Several hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Waystar during the 2nd quarter worth $800,003,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Waystar in the second quarter valued at about $106,468,000. TPG GP A LLC bought a new position in Waystar during the second quarter worth about $85,910,000. American Century Companies Inc. bought a new position in Waystar during the second quarter worth about $28,357,000. Finally, Ghisallo Capital Management LLC acquired a new stake in Waystar in the 2nd quarter worth about $12,900,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Waystar from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Raymond James began coverage on Waystar in a research report on Tuesday, July 2nd. They set an "outperform" rating and a $30.00 target price for the company. Royal Bank of Canada increased their price target on shares of Waystar from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Friday, September 6th. Bank of America assumed coverage on shares of Waystar in a report on Tuesday, July 2nd. They set a "buy" rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued a "buy" rating and a $32.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $28.90.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.