Stock Traders Buy High Volume of Call Options on European Wax Center (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) saw some unusual options trading on Monday. Investors acquired 15,427 call options on the stock. This represents an increase of 1,074% compared to the typical volume of 1,314 call options.

European Wax Center Trading Up 1.8 %

European Wax Center stock opened at $6.35 on Tuesday. The firm has a 50-day moving average price of $6.47 and a two-hundred day moving average price of $7.47. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07. The firm has a market capitalization of $361.59 million, a price-to-earnings ratio of 27.61, a PEG ratio of 2.35 and a beta of 1.01. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Insider Activity

In other news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the sale, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of European Wax Center by 365.7% in the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after purchasing an additional 44,376 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock worth $5,582,000 after acquiring an additional 30,804 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of European Wax Center in the third quarter valued at approximately $451,000. XTX Topco Ltd acquired a new position in shares of European Wax Center during the third quarter valued at approximately $162,000. Finally, Atom Investors LP raised its holdings in European Wax Center by 57.4% during the third quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after purchasing an additional 67,371 shares in the last quarter. 82.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EWCZ shares. Telsey Advisory Group lowered European Wax Center from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $8.00 to $6.00 in a report on Thursday, December 19th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, European Wax Center presently has an average rating of “Hold” and a consensus price target of $7.36.

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.