( ) saw a significant drop in short interest for the month of march. On March 31, there were 13,950,000 short shares, which is a 6.7% decrease from the total 14,950,000 on March 15. The days-tocover ratio, based on an average daily share volume of 1,310,000, is currently 10.6 days. Currently, 16.5% shares are being shorted.
Analysts set new price targets
Morgan Stanley also reduced its price target for Mister Car Wash shares from $11.00 down to $10.00 and assigned the company an "equal weight" rating in a report published on Friday, 24th February. Four analysts have given the stock a hold or hold rating, while one analyst gave it a sell. Trading at midday on Thursday saw a decline of $0.16, bringing the price to $8.65. The company's average trading volume is 1,263,339. The 50-day moving price of the company is $8.83, and its 200 day moving price is $9.25. The company has a $2.66 billion market cap, a PE of 25.44 and a PEG of 2.27. It also has a beta of 1.001. The debt-to equity ratio for the company is 1.14. Its current ratio is 0.69, and its quick ratio 0.63. Mister Car Wash's 52-week low is $7.80, and its 52-week high is $15.43.
The company last released its quarterly earnings on Thursday, 23rd February. The company announced $0.06 in earnings per share for the quarter. This was $0.01 higher than analysts' expectations of $0.05. Revenue for the quarter was $214.35 millions, which is higher than the $214.74-million consensus estimate. Mister Car Wash's return on equity was 15.16 % and its net margin was 12.88 %. Analysts expect Mister Car Wash to post an average of 0.28 EPS in the current fiscal period.
Inflows of Institutional Capital and Outflows
Recently, hedge funds and institutional investors increased or decreased their stakes. Point72 Hong Kong Ltd purchased a new stake in Mister Car Wash during the second quarter, valued at approximately $30,000. Ellevest Inc. increased its stake in Mister Car Wash in the fourth quarter by 153.0%. Ellevest Inc. owns 2,755 of the company stock, worth $25,000, after buying an additional 1,666 during the period. Quadrant Capital Group purchased a position in Mister Car Wash worth about $29,000 in the fourth quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Mister Car Wash in the third quarter by 119.8%. Whittier Trust Co. of Nevada Inc. owns 3,838 of the company stock, worth $33,000. This is after buying an additional 2,092 during the period. Clear Street Markets LLC purchased a new Mister Car Wash position worth $36,000 in the fourth quarter.
About Mister Carwash
Mister Car Wash, Inc., along with its subsidiaries, offers conveyorized car washing services in the United States. It provides exterior and interior cleaning express services. It operated 407 car washes in 21 states as of June 16, 2022. Mister Car Wash, Inc. was the company's former name. It used to be known as Hotshine Holdings, Inc.
MarketBeat.com offers a FREE daily email newsletter