Short Interest in Waystar Holding Corp. (NASDAQ:WAY) Expands By 25.5%

Waystar Holding Corp. (NASDAQ:WAY) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,760,000 shares, an increase of 25.5% from the December 15th total of 4,590,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 5.4 days. Currently, 7.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WAY. Canaccord Genuity Group upped their price target on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Evercore ISI upped their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada raised their price objective on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $35.10.

Waystar Trading Up 0.9 %

Waystar stock opened at $37.69 on Thursday. The company has a 50-day simple moving average of $33.71 and a 200-day simple moving average of $28.46. Waystar has a one year low of $20.26 and a one year high of $38.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts forecast that Waystar will post 0.03 EPS for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in shares of Waystar during the second quarter valued at about $800,003,000. Deerfield Management Company L.P. Series C acquired a new position in Waystar during the 2nd quarter valued at about $106,468,000. TPG GP A LLC bought a new stake in shares of Waystar during the 2nd quarter worth about $85,910,000. ArrowMark Colorado Holdings LLC raised its position in shares of Waystar by 36.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after buying an additional 909,715 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Waystar by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after acquiring an additional 96,552 shares in the last quarter.

Waystar Company Profile

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