Waystar Holding Corp. (NASDAQ:WAY) Sees Large Decrease in Short Interest

Posted by Jeff Wilder on Feb 1st, 2025

Waystar Holding Corp. (NASDAQ:WAY – Get Free Report) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 4,040,000 shares, a decrease of 29.9% from the December 31st total of 5,760,000 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WAY shares. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. 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 lifted their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Waystar from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, 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 research report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.10.

Read Our Latest Report on WAY

Waystar Price Performance

Shares of Waystar stock traded down $1.35 on Friday, reaching $40.19. The stock had a trading volume of 864,403 shares, compared to its average volume of 1,073,512. The business’s 50-day moving average price is $35.77 and its two-hundred day moving average price is $29.90. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $41.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Waystar will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction 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 owns 173,642 shares in the company, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Waystar in the fourth quarter valued at $25,000. Cerity Partners LLC grew its holdings in Waystar by 1.5% during the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock worth $1,302,000 after acquiring an additional 699 shares during the last quarter. Amalgamated Bank bought a new position in shares of Waystar in the third quarter worth about $41,000. Smithfield Trust Co acquired a new position in shares of Waystar during the third quarter worth approximately $68,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Waystar during the third quarter worth approximately $78,000.