Short Interest in European Wax Center, Inc. (NASDAQ:EWCZ) Rises By 8.0%

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 5,940,000 shares, a growth of 8.0% from the March 31st total of 5,500,000 shares. Currently, 18.9% of the shares of the stock are short sold. Based on an average trading volume of 461,400 shares, the days-to-cover ratio is presently 12.9 days.

European Wax Center Stock Performance

Shares of EWCZ stock opened at $11.77 on Thursday. European Wax Center has a 12 month low of $10.82 and a 12 month high of $20.00. The stock has a market cap of $715.29 million, a PE ratio of 69.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The company has a current ratio of 2.52, a quick ratio of 1.98 and a debt-to-equity ratio of 3.19. The company’s fifty day moving average price is $12.79 and its 200-day moving average price is $13.93.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, March 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. European Wax Center had a net margin of 4.04% and a return on equity of 6.69%. The firm had revenue of $56.33 million for the quarter, compared to analysts’ expectations of $53.98 million. On average, equities analysts expect that European Wax Center will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

Hedge funds have recently bought and sold shares of the company. Bamco Inc. NY increased its position in shares of European Wax Center by 18.5% during the 3rd quarter. Bamco Inc. NY now owns 4,126,159 shares of the company’s stock valued at $66,844,000 after purchasing an additional 642,726 shares during the last quarter. Wellington Management Group LLP increased its stake in European Wax Center by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock worth $30,977,000 after purchasing an additional 77,334 shares during the period. Massachusetts Financial Services Co. MA increased its stake in European Wax Center by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,203,893 shares of the company’s stock worth $35,703,000 after purchasing an additional 52,893 shares during the period. Vanguard Group Inc. increased its stake in shares of European Wax Center by 8.9% during the third quarter. Vanguard Group Inc. now owns 1,795,283 shares of the company’s stock valued at $29,084,000 after buying an additional 146,238 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in European Wax Center by 1.9% during the third quarter. TimesSquare Capital Management LLC now owns 1,517,950 shares of the company’s stock valued at $24,591,000 after purchasing an additional 28,425 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EWCZ. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $18.00 target price on shares of European Wax Center in a research note on Wednesday, March 6th. Piper Sandler lifted their target price on shares of European Wax Center from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th.

About European Wax Center

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.