European Wax Center Target of Unusually High Options Trading (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 8,172 call options on the company. This represents an increase of approximately 1,163% compared to the average volume of 647 call options.

European Wax Center Price Performance

Shares of EWCZ stock traded up $0.04 during mid-day trading on Wednesday, hitting $5.93. 5,878,863 shares of the stock were exchanged, compared to its average volume of 710,519. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07. The firm has a fifty day moving average of $6.94 and a 200 day moving average of $8.33. The company has a market cap of $337.65 million, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11.

Analysts Set New Price Targets

Several research firms have weighed in on EWCZ. Bank of America dropped their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research report on Thursday, November 14th. Truist Financial cut their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.64.

Institutional Trading of European Wax Center

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

European Wax Center Company Profile

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.