Mister Car Wash (NYSE:MCW) Sees Strong Trading Volume

Mister Car Wash, Inc. (NYSE:MCW) saw unusually-strong trading volume on Tuesday . Approximately 4,357,725 shares were traded during trading, an increase of 141% from the previous session’s volume of 1,804,744 shares.The stock last traded at $6.32 and had previously closed at $6.40.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MCW shares. JPMorgan Chase & Co. raised Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price target on the stock in a report on Friday, May 3rd. The Goldman Sachs Group raised their price target on Mister Car Wash from $5.00 to $6.00 and gave the company a “sell” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.69.

Mister Car Wash Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.26 and a current ratio of 0.28. The stock has a market capitalization of $2.04 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.28 and a beta of 1.67. The firm has a 50-day moving average price of $7.04 and a 200 day moving average price of $7.35.

Insider Buying and Selling

In related news, CEO John Lo-Minn Lai sold 33,904 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $234,954.72. Following the transaction, the chief executive officer now directly owns 5,050,517 shares in the company, valued at approximately $35,000,082.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 33,904 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $234,954.72. Following the completion of the sale, the chief executive officer now owns 5,050,517 shares in the company, valued at approximately $35,000,082.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jedidiah Marc Gold sold 4,079 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $28,267.47. Following the completion of the sale, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $310,838.22. The disclosure for this sale can be found here. Insiders have sold a total of 45,928 shares of company stock worth $319,179 in the last ninety days. 70.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently bought and sold shares of the business. Yousif Capital Management LLC lifted its stake in shares of Mister Car Wash by 2.7% in the 4th quarter. Yousif Capital Management LLC now owns 45,290 shares of the company’s stock valued at $391,000 after purchasing an additional 1,175 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Mister Car Wash by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,600 shares of the company’s stock valued at $332,000 after purchasing an additional 1,500 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Mister Car Wash by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 79,712 shares of the company’s stock valued at $618,000 after purchasing an additional 1,581 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Mister Car Wash by 3.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 50,827 shares of the company’s stock valued at $439,000 after purchasing an additional 1,695 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Mister Car Wash by 9.9% in the 1st quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock valued at $156,000 after purchasing an additional 1,824 shares during the period.

About Mister Car Wash

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.