Yesway, Inc. (NASDAQ:YSWY) Short Interest Up 121.2% in June

Key Points

• Short interest in Yesway surged 121.2% in June, reaching 2,987,689 shares, or about 4.7% of the float. The stock’s days-to-cover ratio is now 3.2 days.
• YSWY shares were slightly lower on Wednesday, falling 0.8% to $19.98, with trading volume well below average. The stock has traded between $19.20 and $29.08 over the past year.
• Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average target price of $29.12. Recent coverage included multiple firms initiating ratings, while JPMorgan trimmed its target to $25.

Yesway, Inc. (NASDAQ:YSWY - Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,987,689 shares, an increase of 121.2% from the June 15th total of 1,350,859 shares. Based on an average daily trading volume, of 947,796 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.7% of the company's shares are short sold.

Yesway Trading Down 0.8%

Shares of NASDAQ YSWY traded down $0.16 during trading on Wednesday, hitting $19.98. 13,640 shares of the company traded hands, compared to its average volume of 528,249. The firm has a fifty day moving average of $22.39. Yesway has a fifty-two week low of $19.20 and a fifty-two week high of $29.08.

Analyst Ratings Changes

Several research firms recently issued reports on YSWY. Raymond James Financial started coverage on shares of Yesway in a report on Monday, May 18th. They issued an "outperform" rating and a $30.00 target price on the stock. The Goldman Sachs Group assumed coverage on Yesway in a research report on Monday, May 18th. They issued a "neutral" rating and a $28.00 price objective for the company. Barclays initiated coverage on Yesway in a research note on Monday, May 18th. They issued an "overweight" rating and a $31.00 price objective on the stock. Morgan Stanley began coverage on Yesway in a research note on Monday, May 18th. They set an "equal weight" rating and a $28.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Yesway from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Yesway presently has an average rating of "Moderate Buy" and an average target price of $29.12.

About Yesway

Yesway, traded on NASDAQ under the ticker YSWY, is a U.S.-based convenience store and fuel retail company that operates retail locations under the Yesway brand. The company's core business is the operation of neighborhood convenience stores that provide quick-purchase retail items, on-site prepared foods, beverages and other convenience merchandise. Many locations also feature fuel dispensing, making Yesway a combined convenience and gasoline retailer for everyday consumers and motorists.

Yesway's stores focus on high-turnover product categories typical of the convenience-retail sector, including snacks, cold beverages, coffee, single-serve and prepared food offerings, and commonly purchased household items.

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