European Wax Center, Inc. (NASDAQ:EWCZ) Short Interest Update

European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 1,970,000 shares, a drop of 7.9% from the November 15th total of 2,140,000 shares. Currently, 6.4% of the shares of the stock are sold short. Based on an average daily volume of 743,500 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EWCZ. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company's stock valued at $369,000 after acquiring an additional 31,022 shares during the last quarter. Victory Capital Management Inc. raised its position in European Wax Center by 25.7% in the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company's stock valued at $566,000 after purchasing an additional 11,650 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of European Wax Center by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company's stock valued at $31,564,000 after purchasing an additional 81,704 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of European Wax Center by 15.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company's stock worth $836,000 after purchasing an additional 11,300 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of European Wax Center during the 2nd quarter worth about $3,274,000. Institutional investors and hedge funds own 82.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on EWCZ. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Morgan Stanley reiterated an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $8.00 price objective on shares of European Wax Center in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.64.

European Wax Center Trading Down 3.1 %

European Wax Center stock traded down $0.19 during trading on Monday, reaching $5.85. 681,632 shares of the company were exchanged, compared to its average volume of 719,083. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The stock's 50 day simple moving average is $6.73 and its two-hundred day simple moving average is $7.90. The company has a market capitalization of $333.12 million, a P/E ratio of 26.26, a PEG ratio of 2.35 and a beta of 1.01. European Wax Center has a 52-week low of $4.80 and a 52-week 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.