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

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,760,000 shares, an increase of 25.5% from the December 31st total of 4,590,000 shares. Approximately 7.4% of the shares of the company are sold short. Based on an average daily trading volume, of 1,060,000 shares, the days-to-cover ratio is currently 5.4 days.

Waystar Stock Up 2.1 %

WAY traded up $0.85 on Thursday, hitting $41.54. The company had a trading volume of 1,420,948 shares, compared to its average volume of 1,204,765. Waystar has a 12-month low of $20.26 and a 12-month high of $41.74. The business's fifty day simple moving average is $35.38 and its 200 day simple moving average is $29.68. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to analysts' expectations of $223.82 million. The business's revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts predict that Waystar will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI lifted their target price on Waystar from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Waystar from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on shares of Waystar from $39.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Raymond James upgraded shares of Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Friday, November 22nd. Finally, Bank of America lifted their target price on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $35.10.

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Waystar

A number of large investors have recently made changes to their positions in the company. Amalgamated Bank bought a new stake in Waystar in the third quarter worth about $41,000. Smithfield Trust Co bought a new stake in shares of Waystar during the 3rd quarter worth approximately $68,000. RiverPark Advisors LLC purchased a new position in Waystar during the 3rd quarter valued at $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the 2nd quarter valued at $145,000. Finally, Dakota Wealth Management purchased a new stake in Waystar in the fourth quarter worth $264,000.

Waystar Company Profile

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