Traders Purchase Large Volume of Call Options on European Wax Center (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 8,172 call options on the stock. This is an increase of approximately 1,163% compared to the typical daily volume of 647 call options.

European Wax Center Trading Up 0.7 %

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

Wall Street Analyst Weigh In

EWCZ has been the topic of a number of analyst reports. Robert W. Baird reduced their target price on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Bank of America reduced their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Truist Financial lowered their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a research report on Thursday, November 14th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.64.

Hedge Funds Weigh In On European Wax Center

Several institutional investors have recently bought and sold shares of EWCZ. Quantbot Technologies LP increased its position in shares of European Wax Center by 52.3% during the third quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after acquiring an additional 7,709 shares during the period. Creative Planning grew its position in shares of European Wax Center by 72.6% during the third quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after buying an additional 9,044 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of European Wax Center by 15.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after purchasing an additional 11,300 shares during the last quarter. Victory Capital Management Inc. increased its holdings in European Wax Center by 25.7% in the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after buying an additional 11,650 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of European Wax Center in the 2nd quarter valued at about $127,000. 82.14% of the stock is owned by institutional investors and hedge funds.

About European Wax Center

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.