An Analysis of Mister Car Wash Inc. (MCW)’s Potential Price Growth


In a filing, Mister Car Wash Inc. revealed its VP, Corporate Development Lindsay Casey Penn unloaded Company’s shares for reported $0.33 million on Oct 17. In the deal valued at $9.00 per share,36,978 shares were sold. As a result of this transaction, Lindsay Casey Penn now holds 0 shares worth roughly $ 0.0.

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Then, Lindsay Casey Penn sold 142,127 shares, generating $1,240,769 in total proceeds. Upon selling the shares at $8.73, the VP, Corporate Development now owns 0 shares.

Before that, Lindsay Casey Penn sold 1,597 shares. Mister Car Wash Inc. shares valued at $18,318 were divested by the insider at a price of $11.47 per share. As a result of the transaction, Lindsay Casey Penn now holds 18,403 shares, worth roughly $0.16 million.

Robert W. Baird initiated its Mister Car Wash Inc. [MCW] rating to a Neutral in a research note published on Monday, October 04, 2022; the price target was $10. PT values the company’s stock at a premium of 10.9 to its Monday closing price. A number of analysts have revised their coverage, including MKM Partners’s analysts, who began to cover the stock in early October with a ‘”a Neutral”‘ rating. Morgan Stanley also remained covering MCW and has decreased its forecast on August 12, 2022 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Goldman revised its rating on June 27, 2022. It rated MCW as “a Sell” which previously was an “a Neutral”.

Price Performance Review of MCW

On Monday, Mister Car Wash Inc. [NYSE:MCW] saw its stock jump 1.60% to $8.91. On the same session, the stock had its day’s lowest price of $8.45, but rose to a high of $8.92. Over the last five days, the stock has gained 0.91%. Mister Car Wash Inc. shares have fallen nearly -51.07% since the year began. Nevertheless, the stocks have fallen -53.83% over the past one year. While a 52-week high of $19.82 was reached on 01/05/22, a 52-week low of $7.80 was recorded on 10/21/22. SMA at 50 days reached $9.21, while 200 days put it at $12.47. A total of 1.22 million shares were traded, compared to the trading of 1.1 million shares in the previous session.

Levels Of Support And Resistance For MCW Stock

The 24-hour chart illustrates a support level at 8.60, which if violated will result in even more drops to 8.29. On the upside, there is a resistance level at 9.07. A further resistance level may holdings at 9.23. The Relative Strength Index (RSI) on the 14-day chart is 50.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.57%. Stochastics %K at 60.71% indicates the stock is a holding.

How much short interest is there in Mister Car Wash Inc.?

A steep rise in short interest was recorded in Mister Car Wash Inc. stocks on Jul 14, 2022, growing by 1.04 million shares to a total of 14.4 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 13.36 million shares. There was a rise of 7.22%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 18.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 12.35.

Mister Car Wash Inc. [MCW] – Who Are The Largest Shareholders?

In filings from Wasatch Advisors, Inc., it is revealed that the company now owns 13,484,122 shares, or roughly 4.43% of the outstanding MCW shares. In other words, the investor’s shares have risen by 3,494,890 from its previous 13-F filing of 9989232.0. Over the last quarter, The Vanguard Group, Inc. purchased 43,495 shares of Mister Car Wash Inc., while Fidelity Management & Research Co bought 1,426,393 shares. At present, AllianceBernstein LP is holding 4,505,771 shares valued at $38.66 million. Crow’s Nest Holdings LP owned 3,851,271 shares of the company at the time of its most recent 13F filing, worth $33.04 million.

According to FactSet, Mister Car Wash Inc.’s share price will average $12.91 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.43 percent from its previous closing price of $8.77. Analysts expect Mister Car Wash Inc. stock to reach the higher price of $28.00, while the lowest price estimate is $9.00. However, 12 analysts have rated MCW stock as an Overweight in their predictions for 2022. The most recent change occurred on March 16, 2022 when William Blair began covering the stock and recommended ‘”an Outperform”‘ rating.


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