Ecovyst (NYSE:ECVT) Shares Gap Down - Here's What Happened

Shares of Ecovyst Inc. (NYSE:ECVT - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.23, but opened at $7.60. Ecovyst shares last traded at $7.50, with a volume of 1,405,050 shares traded.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research report on Monday, May 5th.

Ecovyst Price Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 2.81 and a quick ratio of 2.24. The firm has a market capitalization of $986.17 million, a price-to-earnings ratio of -84.00, a PEG ratio of 0.74 and a beta of 1.13. The stock has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $7.25.

Ecovyst (NYSE:ECVT - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. The company had revenue of $162.20 million during the quarter, compared to the consensus estimate of $168.43 million. Ecovyst had a positive return on equity of 7.60% and a negative net margin of 1.63%. Ecovyst's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. As a group, analysts expect that Ecovyst Inc. will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund boosted 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 buying an additional 7,000 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Ecovyst in the fourth quarter valued at $139,000. Charles Schwab Investment Management Inc. boosted its holdings in Ecovyst by 11.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,903,148 shares of the company's stock valued at $14,540,000 after purchasing an additional 198,817 shares during the period. Raymond James Financial Inc. purchased a new position in Ecovyst in the fourth quarter valued at $2,706,000. Finally, Cibc World Markets Corp acquired a new position in Ecovyst during the 4th quarter worth $83,000. 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.