Ecovyst (NYSE:ECVT) Sees Strong Trading Volume - Time to Buy?

Key Points

• Ecovyst (NYSE:ECVT) experienced a significant increase in trading volume with 2.3 million shares exchanged, a rise of 82% compared to the previous session.
• Analysts currently maintain an average rating of "Buy" for Ecovyst, with target prices ranging from $12.00 to $14.00, despite a recent downgrade from Wall Street Zen to a "hold" rating.
• The company's quarterly earnings report showed $0.12 EPS, meeting expectations, but revenue fell short of estimates at $200.10 million, although it still represented a 9.5% increase year-over-year.

Shares of Ecovyst Inc. (NYSE:ECVT - Get Free Report) saw strong trading volume on Wednesday . 2,299,786 shares changed hands during trading, an increase of 82% from the previous session's volume of 1,265,676 shares.The stock last traded at $9.35 and had previously closed at $9.01.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ECVT shares. BWS Financial reiterated a "buy" rating and set a $12.00 target price on shares of Ecovyst in a research note on Monday, August 11th. BMO Capital Markets increased their price objective on shares of Ecovyst from $10.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Wall Street Zen downgraded shares of Ecovyst from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $11.67.

Ecovyst Stock Performance

The stock's 50-day simple moving average is $8.85 and its 200 day simple moving average is $7.63. The stock has a market capitalization of $1.06 billion, a P/E ratio of -77.21, a PEG ratio of 4.19 and a beta of 1.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.25 and a quick ratio of 1.69.

Ecovyst (NYSE:ECVT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The business had revenue of $200.10 million during the quarter, compared to the consensus estimate of $204.27 million. Ecovyst had a positive return on equity of 7.69% and a negative net margin of 1.91%.Ecovyst's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Ecovyst has set its FY 2025 guidance at 0.520-0.680 EPS. Research analysts expect that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Ecovyst

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock valued at $32,000 after buying an additional 3,489 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Ecovyst by 11,312.2% during the 1st quarter. GAMMA Investing LLC now owns 5,592 shares of the company's stock worth $35,000 after acquiring an additional 5,543 shares during the period. CWM LLC boosted its stake in Ecovyst by 63.0% in the 2nd quarter. CWM LLC now owns 5,946 shares of the company's stock worth $49,000 after purchasing an additional 2,298 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Ecovyst by 1,769.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company's stock valued at $51,000 after acquiring an additional 5,823 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Ecovyst by 60.1% during the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company's stock valued at $56,000 after acquiring an additional 3,396 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.