Short Interest in Waystar Holding Corp. (NASDAQ:WAY) Increases By 287.7%

Waystar Holding Corp. (NASDAQ:WAY) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,420,000 shares, an increase of 287.7% from the September 15th total of 882,200 shares. Based on an average daily trading volume, of 677,500 shares, the short-interest ratio is currently 5.0 days. Currently, 4.7% of the shares of the company are sold short.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently made changes to their positions in WAY. Ghisallo Capital Management LLC acquired a new position in Waystar in the 2nd quarter valued at approximately $12,900,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Waystar in the second quarter valued at $27,950,000. Sculptor Capital LP bought a new position in Waystar during the 2nd quarter worth $791,000. Point72 DIFC Ltd acquired a new position in Waystar during the 2nd quarter worth about $3,935,000. Finally, American Century Companies Inc. bought a new stake in shares of Waystar in the 2nd quarter valued at about $28,357,000.

Waystar Price Performance

Waystar stock remained flat at $27.88 during midday trading on Friday. The company’s stock had a trading volume of 551,870 shares, compared to its average volume of 1,101,740. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 2.15. Waystar has a 1 year low of $20.26 and a 1 year high of $28.57. The company has a 50 day moving average price of $26.37.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.25 million. Waystar’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, analysts expect that Waystar will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WAY shares. Canaccord Genuity Group began coverage on Waystar in a report on Tuesday, July 2nd. They set a “buy” rating and a $30.00 price target for the company. Canaccord Genuity Group assumed coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price objective for the company. William Blair initiated coverage on shares of Waystar in a research report on Tuesday, July 2nd. They set an “outperform” rating on the stock. Bank of America began coverage on shares of Waystar in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $27.00 price target for the company. Finally, The Goldman Sachs Group began coverage on Waystar in a research report on Tuesday, July 2nd. They set a “buy” rating and a $32.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $29.40.

Waystar Company Profile

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