Mister Car Wash, Inc. (NYSE:MCW) Sees Significant Growth in Short Interest

Mister Car Wash, Inc. (NYSE:MCWGet Rating) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 10,310,000 shares, an increase of 22.0% from the March 31st total of 8,450,000 shares. Based on an average daily volume of 862,500 shares, the short-interest ratio is presently 12.0 days. Approximately 14.2% of the shares of the company are sold short.

MCW has been the subject of several recent research reports. BMO Capital Markets lowered their price target on shares of Mister Car Wash from $25.00 to $23.00 in a research report on Friday, March 25th. Morgan Stanley upgraded shares of Mister Car Wash from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Tuesday, January 18th. Zacks Investment Research lowered shares of Mister Car Wash from a “buy” rating to a “hold” rating in a research report on Wednesday, January 12th. Stifel Nicolaus upgraded shares of Mister Car Wash from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Friday, March 11th. Finally, William Blair began coverage on shares of Mister Car Wash in a research report on Wednesday, March 16th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $22.80.

In other Mister Car Wash news, insider Casey Penn Lindsay sold 3,600 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $16.50, for a total transaction of $59,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 7,082 shares of company stock valued at $119,067. 71.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. FIL Ltd increased its holdings in shares of Mister Car Wash by 92.1% in the 3rd quarter. FIL Ltd now owns 4,240,000 shares of the company’s stock valued at $77,380,000 after purchasing an additional 2,032,715 shares during the period. Geode Capital Management LLC acquired a new position in Mister Car Wash in the third quarter worth approximately $8,145,000. Oppenheimer Asset Management Inc. increased its holdings in Mister Car Wash by 34.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 40,272 shares of the company’s stock worth $735,000 after buying an additional 10,247 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Mister Car Wash by 52.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 88,939 shares of the company’s stock worth $1,620,000 after buying an additional 30,673 shares during the last quarter. Finally, Providence Equity Partners L.L.C. acquired a new position in Mister Car Wash in the third quarter worth approximately $31,257,000. Institutional investors own 98.43% of the company’s stock.

MCW stock traded down $0.32 during mid-day trading on Tuesday, reaching $14.54. 19,140 shares of the stock traded hands, compared to its average volume of 622,588. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 1.39. Mister Car Wash has a 52-week low of $13.92 and a 52-week high of $24.49. The stock has a fifty day moving average of $15.27.

Mister Car Wash (NYSE:MCWGet Rating) last issued its earnings results on Thursday, March 24th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $191.46 million for the quarter, compared to the consensus estimate of $189.10 million. Mister Car Wash had a negative return on equity of 6.86% and a negative net margin of 2.91%. On average, equities research analysts anticipate that Mister Car Wash will post 0.41 earnings per share for the current year.

About Mister Car Wash (Get Rating)

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. As of December 31, 2021, it operated 396 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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