CECO Environmental Corp. (NASDAQ:CECO) Short Interest Down 68.3% in June

Key Points

• Short interest in CECO Environmental plunged 68.3% in June, falling to 1.91 million shares as of June 15 from 6.01 million at the end of May. The current days-to-cover ratio is 1.7, and about 6.5% of the float is sold short.
• Insiders sold shares during the period, including CFO Peter K. Johansson and Director Jason DeZwirek, who both reduced their positions on June 24. Insider ownership still stands at 18.4% of the company.
• CECO has been performing well operationally and on Wall Street, reporting better-than-expected quarterly EPS and revenue, while analysts maintain a consensus Buy rating with an average price target of $102.83. The stock recently traded near $91.87 after reaching a 52-week high of $101.24.

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 1,906,224 shares, a decline of 68.3% from the May 31st total of 6,010,071 shares. Based on an average daily trading volume, of 1,095,473 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.5% of the shares of the company are sold short.

Insider Buying and Selling at CECO Environmental

In other news, CFO Peter K. Johansson sold 30,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.49, for a total transaction of $2,894,700.00. Following the sale, the chief financial officer owned 40,746 shares of the company's stock, valued at approximately $3,931,581.54. This trade represents a 42.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total transaction of $3,284,740.00. Following the sale, the director owned 166,000 shares in the company, valued at $16,037,260. This represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its holdings in shares of CECO Environmental by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 5,390 shares of the company's stock worth $323,000 after acquiring an additional 399 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of CECO Environmental by 3.5% during the 2nd quarter. Osaic Holdings Inc. now owns 12,297 shares of the company's stock worth $348,000 after purchasing an additional 412 shares during the period. Ellsworth Advisors LLC increased its position in shares of CECO Environmental by 3.2% in the fourth quarter. Ellsworth Advisors LLC now owns 15,047 shares of the company's stock valued at $996,000 after buying an additional 462 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new position in shares of CECO Environmental in the first quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in CECO Environmental in the 3rd quarter valued at $25,000. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Price Performance

NASDAQ CECO traded down $3.22 on Friday, hitting $91.87. The stock had a trading volume of 1,877,024 shares, compared to its average volume of 986,728. CECO Environmental has a 52-week low of $28.01 and a 52-week high of $101.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.18 and a current ratio of 1.33. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 248.30 and a beta of 1.49. The firm has a 50-day moving average of $82.36 and a 200-day moving average of $70.08.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.24. CECO Environmental had a return on equity of 13.69% and a net margin of 1.70%.The business had revenue of $205.92 million during the quarter, compared to the consensus estimate of $198.88 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that CECO Environmental will post 1.96 EPS for the current year.

Analyst Ratings Changes

CECO has been the topic of several analyst reports. Zacks Research upgraded CECO Environmental from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Needham & Company LLC upped their price objective on CECO Environmental from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Northland Securities set a $118.00 price target on shares of CECO Environmental in a research report on Friday, June 12th. Craig Hallum reiterated a "buy" rating and issued a $103.00 price objective on shares of CECO Environmental in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of CECO Environmental from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, CECO Environmental currently has a consensus rating of "Buy" and a consensus price target of $102.83.

CECO Environmental Company Profile

CECO Environmental Corp. NASDAQ: CECO is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO's core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.

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