Waystar Holding Corp. (NASDAQ:WAY) Short Interest Update

Waystar Holding Corp. (NASDAQ:WAY) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,580,000 shares, a decline of 24.6% from the September 30th total of 3,420,000 shares. Based on an average daily volume of 666,900 shares, the days-to-cover ratio is currently 3.9 days. Approximately 3.6% of the company’s shares are short sold.

Institutional Investors Weigh In On Waystar

Institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Waystar during the second quarter worth about $145,000. Scientech Research LLC bought a new position in shares of Waystar in the second quarter worth about $289,000. Federated Hermes Inc. bought a new position in shares of Waystar in the second quarter worth about $430,000. SG Americas Securities LLC bought a new position in shares of Waystar in the third quarter worth about $717,000. Finally, Sculptor Capital LP bought a new position in shares of Waystar in the second quarter worth about $791,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WAY shares. JPMorgan Chase & Co. lifted their price target on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. The Goldman Sachs Group started coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Barclays started coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued an “overweight” rating and a $24.00 price target on the stock. Canaccord Genuity Group started coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Raymond James started coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $30.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.90.

Waystar Price Performance

Shares of NASDAQ:WAY traded up $0.45 on Friday, hitting $27.62. The company had a trading volume of 424,633 shares, compared to its average volume of 836,403. Waystar has a 1-year low of $20.26 and a 1-year high of $28.57. The stock’s 50 day moving average is $27.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.15 and a quick ratio of 2.15.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million during the quarter, compared to analyst estimates of $216.25 million. During the same quarter last year, the company posted ($0.07) earnings per share. The company’s revenue was up 19.6% on a year-over-year basis. Equities analysts expect that Waystar will post -0.08 earnings per share for the current year.

Waystar Company Profile

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