Mister Car Wash (NYSE:MCW) Sees Unusually-High Trading Volume

Mister Car Wash, Inc. (NYSE:MCW) shares saw unusually-high trading volume on Tuesday . Approximately 746,171 shares were traded during trading, a decline of 55% from the previous session’s volume of 1,659,032 shares.The stock last traded at $7.64 and had previously closed at $7.53.

Analysts Set New Price Targets

MCW has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. The Goldman Sachs Group lifted their price objective on Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price objective on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.69.

Mister Car Wash Stock Down 3.7 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.26 and a current ratio of 0.30. The firm has a market capitalization of $2.34 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.39 and a beta of 1.66. The stock has a fifty day moving average price of $7.07 and a two-hundred day moving average price of $7.52.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. The firm had revenue of $239.18 million during the quarter, compared to the consensus estimate of $244.06 million. Research analysts forecast that Mister Car Wash, Inc. will post 0.27 EPS for the current year.

Insider Activity

In related news, CFO Jedidiah Marc Gold sold 4,079 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $28,267.47. Following the completion of the transaction, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $310,838.22. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO John Lo-Minn Lai sold 33,904 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $234,954.72. Following the completion of the transaction, the chief executive officer now directly owns 5,050,517 shares in the company, valued at approximately $35,000,082.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jedidiah Marc Gold sold 4,079 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $28,267.47. Following the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $310,838.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,444 shares of company stock worth $443,472. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Mister Car Wash during the 2nd quarter worth $31,000. ORG Partners LLC acquired a new position in Mister Car Wash during the 4th quarter worth $43,000. Pallas Capital Advisors LLC acquired a new position in Mister Car Wash during the 2nd quarter worth $84,000. CIBC Asset Management Inc acquired a new position in Mister Car Wash during the 2nd quarter worth $91,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Mister Car Wash by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock worth $135,000 after acquiring an additional 2,479 shares during the period.

Mister Car Wash Company Profile

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.