Short Interest in Waystar Holding Corp. (NASDAQ:WAY) Drops By 20.5%

Waystar Holding Corp. (NASDAQ:WAY) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 937,600 shares, a decline of 20.5% from the August 15th total of 1,180,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 813,000 shares, the short-interest ratio is currently 1.2 days.

Waystar Stock Up 1.7 %

Shares of NASDAQ WAY opened at $27.28 on Tuesday. Waystar has a 1 year low of $20.26 and a 1 year high of $28.57. The stock has a 50-day moving average price of $24.50.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results 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 business had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. Waystar’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, sell-side analysts predict that Waystar will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Peregrine Capital Management LLC bought a new stake in shares of Waystar during the second quarter valued at approximately $9,010,000. TD Asset Management Inc bought a new stake in Waystar during the 2nd quarter valued at $1,633,000. American Century Companies Inc. purchased a new stake in shares of Waystar in the 2nd quarter worth $28,357,000. Federated Hermes Inc. bought a new position in shares of Waystar during the 2nd quarter worth $430,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Waystar during the second quarter valued at $800,003,000.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on Waystar from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Waystar from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. William Blair initiated coverage on shares of Waystar in a research report on Tuesday, July 2nd. They set an “outperform” rating for the company. Barclays began coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued an “overweight” rating and a $24.00 target price on the stock. Finally, Canaccord Genuity Group started coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Waystar has an average rating of “Buy” and a consensus price target of $28.90.

About Waystar

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