Short Interest in Waystar Holding Corp. (NASDAQ:WAY) Grows By 36.6%

Waystar Holding Corp. (NASDAQ:WAY) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,400,000 shares, a growth of 36.6% from the November 15th total of 3,220,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 4.4 days.

Hedge Funds Weigh In On Waystar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Peregrine Capital Management LLC acquired a new stake in Waystar during the 2nd quarter worth approximately $9,010,000. TD Asset Management Inc acquired a new stake in shares of Waystar during the second quarter worth $1,633,000. American Century Companies Inc. acquired a new position in Waystar in the 2nd quarter worth $28,357,000. Federated Hermes Inc. bought a new position in Waystar during the 2nd quarter worth about $430,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Waystar in the 2nd quarter valued at about $800,003,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WAY shares. Royal Bank of Canada raised their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 22nd. Canaccord Genuity Group increased their target price on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus target price of $32.90.

Waystar Stock Up 0.5 %

Shares of WAY stock opened at $34.19 on Friday. The firm has a 50 day simple moving average of $29.62. Waystar has a 52-week low of $20.26 and a 52-week high of $34.22. 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) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts expect that Waystar will post 0.03 earnings per share for the current fiscal year.

Waystar Company Profile

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