European Wax Center, Inc. (NASDAQ:EWCZ) Short Interest Down 7.9% in November

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,970,000 shares, a decline of 7.9% from the November 15th total of 2,140,000 shares. Based on an average daily trading volume, of 743,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 6.4% of the shares of the company are short sold.

Analysts Set New Price Targets

EWCZ has been the topic of several research reports. Bank of America cut their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a report on Friday, November 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.64.

European Wax Center Stock Performance

Shares of NASDAQ EWCZ traded down $0.05 during trading on Tuesday, reaching $5.80. 716,956 shares of the company traded hands, compared to its average volume of 719,136. The stock has a market cap of $330.27 million, a P/E ratio of 25.43, a PEG ratio of 2.35 and a beta of 1.01. The firm’s fifty day simple moving average is $6.70 and its 200 day simple moving average is $7.86. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. European Wax Center has a 12-month low of $4.80 and a 12-month high of $16.07.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in European Wax Center in the 3rd quarter worth approximately $93,000. Royce & Associates LP acquired a new position in shares of European Wax Center in the 3rd quarter valued at $108,000. Aigen Investment Management LP purchased a new stake in European Wax Center during the third quarter worth $114,000. Dark Forest Capital Management LP purchased a new stake in European Wax Center during the second quarter worth $127,000. Finally, Algert Global LLC acquired a new stake in European Wax Center during the second quarter valued at $135,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

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.