Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 36.6% in November

Waystar Holding Corp. (NASDAQ:WAY) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 4,400,000 shares, a growth of 36.6% from the November 15th total of 3,220,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 5.6% of the shares of the stock are short sold.

Analyst Ratings Changes

WAY has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Royal Bank of Canada lifted their target price on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.90.

Waystar Stock Performance

WAY stock opened at $34.07 on Friday. Waystar has a 52-week low of $20.26 and a 52-week high of $34.60. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average price is $29.76.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, research analysts anticipate that Waystar will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in Waystar in the third quarter worth $41,000. Smithfield Trust Co acquired a new position in Waystar during the 3rd quarter valued at $68,000. RiverPark Advisors LLC bought a new stake in shares of Waystar in the third quarter valued at about $78,000. Cubist Systematic Strategies LLC acquired a new position in shares of Waystar in the second quarter valued at $145,000. Finally, Stifel Financial Corp bought a new position in shares of Waystar during the 3rd quarter worth about $204,000.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.