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

European Wax Center, Inc. (NASDAQ:EWCZ) saw a large growth in short interest in the month of 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. Based on an average daily volume of 461,400 shares, the short-interest ratio is currently 12.9 days. Approximately 18.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler raised their price target on European Wax Center from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Telsey Advisory Group restated an “outperform” rating and set a $18.00 target price on shares of European Wax Center in a research report on Wednesday, March 6th.

Institutional Investors Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its holdings in shares of European Wax Center by 18.5% in the third 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of European Wax Center by 19.5% in the third quarter. Wellington Management Group LLP now owns 2,202,055 shares of the company’s stock worth $35,673,000 after acquiring an additional 360,006 shares during the last quarter. American Century Companies Inc. lifted its position in shares of European Wax Center by 17.5% in the third quarter. American Century Companies Inc. now owns 1,338,265 shares of the company’s stock valued at $21,680,000 after acquiring an additional 199,071 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of European Wax Center by 186.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 268,417 shares of the company’s stock valued at $4,348,000 after acquiring an additional 174,812 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in European Wax Center by 13.3% during the 4th quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock worth $18,482,000 after purchasing an additional 160,000 shares in the last quarter. 82.14% of the stock is owned by institutional investors and hedge funds.

European Wax Center Price Performance

Shares of EWCZ stock traded up $0.11 during midday trading on Tuesday, reaching $11.76. 504,159 shares of the company traded hands, compared to its average volume of 519,893. The firm’s 50 day simple moving average is $12.79 and its two-hundred day simple moving average is $13.93. The firm has a market cap of $714.66 million, a PE ratio of 69.18, a price-to-earnings-growth ratio of 1.94 and a beta of 1.25. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.52 and a quick ratio of 1.98. European Wax Center has a 1-year low of $10.82 and a 1-year high of $20.00.

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

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.