Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 25.5% in December

Posted by Rob Hiaasen on Jan 17th, 2025

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

Waystar Price Performance

NASDAQ:WAY opened at $37.36 on Friday. Waystar has a 52-week low of $20.26 and a 52-week high of $38.35. 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 business’s fifty day moving average is $33.87 and its 200 day moving average is $28.53.

Waystar (NASDAQ:WAY – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts forecast that Waystar will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WAY shares. Evercore ISI raised their price objective 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. The Goldman Sachs Group lifted their price target on Waystar from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased 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. Canaccord Genuity Group lifted their target price on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Friday, November 22nd. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar presently has an average rating of “Buy” and an average target price of $35.10.

Read Our Latest Research Report on WAY

Insider Buying and Selling

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

Hedge Funds Weigh In On Waystar

Large investors have recently modified their holdings of the company. Cerity Partners LLC grew its position in Waystar by 1.5% during the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after acquiring an additional 699 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Waystar in the 3rd quarter valued at $41,000. Smithfield Trust Co bought a new position in shares of Waystar during the 3rd quarter valued at $68,000. RiverPark Advisors LLC purchased a new position in Waystar in the 3rd quarter worth $78,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Waystar in the second quarter worth $145,000.