European Wax Center (NASDAQ:EWCZ) Shares Down 4.4% – Here’s What Happened
by Teresa Graham · The Cerbat GemEuropean Wax Center, Inc. (NASDAQ:EWCZ – Get Free Report) shares traded down 4.4% during mid-day trading on Friday . The stock traded as low as $3.38 and last traded at $3.44. 416,658 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 265,403 shares. The stock had previously closed at $3.60.
Analysts Set New Price Targets
A number of research firms have weighed in on EWCZ. Wall Street Zen raised shares of European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Telsey Advisory Group restated a “market perform” rating and set a $5.00 price objective on shares of European Wax Center in a report on Wednesday, November 12th. Finally, Weiss Ratings initiated coverage on European Wax Center in a research report on Saturday, November 1st. They issued a “sell (d+)” rating on the stock. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $6.93.
View Our Latest Analysis on EWCZ
European Wax Center Stock Down 4.4%
The firm’s 50-day moving average price is $3.79 and its 200-day moving average price is $4.24. The company has a debt-to-equity ratio of 3.57, a current ratio of 3.67 and a quick ratio of 3.14. The company has a market cap of $187.00 million, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.36 and a beta of 1.45.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of EWCZ. Nuveen LLC purchased a new stake in European Wax Center during the 1st quarter worth $361,000. Hillsdale Investment Management Inc. acquired a new stake in shares of European Wax Center during the second quarter valued at about $5,524,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of European Wax Center during the first quarter valued at about $458,000. CenterBook Partners LP increased its position in shares of European Wax Center by 14.1% during the second quarter. CenterBook Partners LP now owns 814,171 shares of the company’s stock worth $4,584,000 after acquiring an additional 100,455 shares during the last quarter. Finally, MIG Capital LLC lifted its stake in shares of European Wax Center by 65.8% in the second quarter. MIG Capital LLC now owns 2,057,186 shares of the company’s stock worth $11,582,000 after acquiring an additional 816,657 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.
European Wax Center Company Profile
European Wax Center is a national provider of hair removal services and related beauty products. The company operates through a network of company-owned and franchised locations, delivering professional waxing treatments for both women and men. Its core service offerings include facial waxing, bikini and Brazilian waxes, arm and leg treatments, back and chest services, and specialized body waxing. In addition to waxing services, European Wax Center markets a range of proprietary retail products such as pre- and post-wax skincare lotions, exfoliating treatments, and moisturizers designed to enhance client comfort and results.
Founded in 2004, European Wax Center introduced a standardized approach to the waxing experience, focusing on consistent training, customer education, and hygienic protocols.