Mister Car Wash (NYSE:MCW) Sees Unusually-High Trading Volume

Mister Car Wash, Inc. (NYSE:MCW) shares saw unusually-high trading volume on Tuesday . Approximately 746,171 shares changed hands during mid-day trading, a decline of 55% from the previous session’s volume of 1,659,032 shares.The stock last traded at $7.64 and had previously closed at $7.53.

Analyst Ratings Changes

MCW has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price target on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.56.

Mister Car Wash Price Performance

The company has a 50 day moving average of $7.04 and a two-hundred day moving average of $7.53. The firm has a market cap of $2.43 billion, a P/E ratio of 32.74, a PEG ratio of 2.33 and a beta of 1.66. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.98.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. The firm had revenue of $239.18 million for the quarter, compared to the consensus estimate of $244.06 million. Sell-side analysts expect that Mister Car Wash, Inc. will post 0.27 EPS for the current year.

Insider Activity at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 4,079 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $28,267.47. Following the completion of the transaction, the chief financial officer now owns 44,854 shares in the company, valued at approximately $310,838.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John Lo-Minn Lai sold 33,904 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $234,954.72. Following the completion of the transaction, the chief executive officer now owns 5,050,517 shares in the company, valued at approximately $35,000,082.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 4,079 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $6.93, for a total value of $28,267.47. Following the completion of the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $310,838.22. The disclosure for this sale can be found here. Insiders sold 61,444 shares of company stock worth $443,472 in the last quarter. 70.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mister Car Wash

Several hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Mister Car Wash by 19.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,673 shares of the company’s stock worth $190,000 after acquiring an additional 4,268 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Mister Car Wash by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock worth $5,428,000 after acquiring an additional 145,374 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Mister Car Wash by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,600 shares of the company’s stock worth $332,000 after acquiring an additional 1,500 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Mister Car Wash in the 2nd quarter worth about $84,000. Finally, Wedmont Private Capital purchased a new stake in Mister Car Wash in the 2nd quarter worth about $181,000.

Mister Car Wash Company Profile

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.