Ecovyst Inc. (NYSE:ECVT) Sees Large Increase in Short Interest

Ecovyst Inc. (NYSE:ECVT - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 4,460,000 shares, an increase of 23.5% from the March 31st total of 3,610,000 shares. Based on an average daily volume of 953,100 shares, the short-interest ratio is presently 4.7 days. Approximately 4.2% of the company's stock are sold short.

Ecovyst Stock Performance

Shares of NYSE ECVT traded up $0.08 during midday trading on Thursday, hitting $6.97. 98,207 shares of the stock traded hands, compared to its average volume of 944,497. The firm has a market capitalization of $818.18 million, a P/E ratio of 15.15, a PEG ratio of 1.04 and a beta of 1.06. Ecovyst has a one year low of $5.24 and a one year high of $9.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54. The firm has a 50-day moving average of $6.24 and a two-hundred day moving average of $7.21.

Ecovyst (NYSE:ECVT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The business had revenue of $162.20 million for the quarter, compared to the consensus estimate of $168.43 million. Ecovyst had a net margin of 7.74% and a return on equity of 7.07%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. On average, equities analysts forecast that Ecovyst will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ECVT. BWS Financial reaffirmed a "buy" rating and issued a $12.00 target price on shares of Ecovyst in a report on Monday. BMO Capital Markets decreased their price target on Ecovyst from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd.

Institutional Trading of Ecovyst

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in Ecovyst by 198.1% during the third quarter. Barclays PLC now owns 178,032 shares of the company's stock valued at $1,220,000 after acquiring an additional 118,303 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Ecovyst by 13.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,000,444 shares of the company's stock worth $15,283,000 after purchasing an additional 244,081 shares in the last quarter. Spire Wealth Management boosted its stake in Ecovyst by 72.9% in the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company's stock worth $34,000 after purchasing an additional 1,896 shares during the period. Empowered Funds LLC grew its holdings in Ecovyst by 5.1% during the 4th quarter. Empowered Funds LLC now owns 320,079 shares of the company's stock valued at $2,445,000 after buying an additional 15,473 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Ecovyst by 34.2% during the fourth quarter. Rhumbline Advisers now owns 246,312 shares of the company's stock valued at $1,882,000 after buying an additional 62,736 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors.

Ecovyst Company Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.