Ecovyst (NYSE:ECVT) Sets New 1-Year High - Here's What Happened

Ecovyst Inc. (NYSE:ECVT - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.05 and last traded at $6.00, with a volume of 1422239 shares changing hands. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BWS Financial reaffirmed a "buy" rating and set a $12.00 target price on shares of Ecovyst in a research note on Monday. BMO Capital Markets reduced their price target on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd.

Ecovyst Trading Up 1.7 %

The business's 50-day simple moving average is $6.24 and its two-hundred day simple moving average is $7.21. The firm has a market capitalization of $791.77 million, a price-to-earnings ratio of 14.69, a PEG ratio of 1.04 and a beta of 1.06. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.04. Ecovyst had a return on equity of 7.07% and a net margin of 7.74%. The business had revenue of $162.20 million during the quarter, compared to analysts' expectations of $168.43 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that Ecovyst Inc. will post 0.44 earnings per share for the current year.

Institutional Trading of Ecovyst

Several hedge funds have recently made changes to their positions in ECVT. Barclays PLC lifted its holdings in Ecovyst by 198.1% during the 3rd quarter. Barclays PLC now owns 178,032 shares of the company's stock worth $1,220,000 after buying an additional 118,303 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Ecovyst during the 4th quarter worth $139,000. Harbor Capital Advisors Inc. increased its holdings in Ecovyst by 13.9% during 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in Ecovyst by 11.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,903,148 shares of the company's stock worth $14,540,000 after purchasing an additional 198,817 shares during the period. Finally, New York State Common Retirement Fund raised its position in Ecovyst by 31.7% in the 4th quarter. New York State Common Retirement Fund now owns 29,081 shares of the company's stock valued at $222,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company's stock.

About Ecovyst

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.