Waystar Holding Corp. (NASDAQ:WAY) Sees Significant Increase in Short Interest

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,420,000 shares, an increase of 287.7% from the September 15th total of 882,200 shares. Based on an average trading volume of 677,500 shares, the days-to-cover ratio is currently 5.0 days. Approximately 4.7% of the shares of the company are short sold.

Institutional Trading of Waystar

A number of large investors have recently modified their holdings of WAY. Cubist Systematic Strategies LLC bought a new stake in Waystar in the 2nd quarter worth approximately $145,000. Scientech Research LLC bought a new stake in Waystar in the 2nd quarter worth approximately $289,000. Federated Hermes Inc. bought a new stake in Waystar in the 2nd quarter worth approximately $430,000. SG Americas Securities LLC bought a new stake in Waystar in the 3rd quarter worth approximately $717,000. Finally, Sculptor Capital LP bought a new stake in Waystar in the 2nd quarter worth approximately $791,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Waystar from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Raymond James initiated coverage on Waystar in a report on Tuesday, July 2nd. They issued an "outperform" rating and a $30.00 price objective for the company. Bank of America initiated coverage on Waystar in a report on Tuesday, July 2nd. They set a "buy" rating and a $27.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Waystar from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, August 19th. Finally, Evercore ISI lifted their target price on Waystar from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $29.40.

Waystar Stock Performance

Shares of WAY traded down $0.05 during trading hours on Thursday, reaching $27.88. 444,131 shares of the company's stock traded hands, compared to its average volume of 875,674. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46. The firm's 50 day simple moving average is $26.16. Waystar has a 12 month low of $20.26 and a 12 month high of $28.57.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. The business's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities analysts forecast that Waystar will post -0.08 earnings per share for the current fiscal year.

About Waystar

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