Ecovyst (NYSE:ECVT) Trading 7.6% Higher - Here's What Happened

Ecovyst Inc. (NYSE:ECVT - Get Free Report)'s share price was up 7.6% on Wednesday . The stock traded as high as $8.18 and last traded at $8.18. Approximately 720,588 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 1,036,749 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

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

Ecovyst Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $986.16 million, a price-to-earnings ratio of -84.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.13. The company has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $7.25.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. Ecovyst had a positive return on equity of 7.60% and a negative net margin of 1.63%. The business had revenue of $162.20 million for the quarter, compared to the consensus estimate of $168.43 million. During the same period in the prior year, the business earned $0.04 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Ecovyst Inc. will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ecovyst

Large investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in Ecovyst during the first quarter worth about $5,448,000. Shapiro Capital Management LLC increased its stake in Ecovyst by 21.9% during the fourth quarter. Shapiro Capital Management LLC now owns 4,830,268 shares of the company's stock worth $36,903,000 after acquiring an additional 868,397 shares during the last quarter. Medina Value Partners LLC increased its stake in Ecovyst by 44.2% during the fourth quarter. Medina Value Partners LLC now owns 2,742,233 shares of the company's stock worth $20,951,000 after acquiring an additional 840,495 shares during the last quarter. Voss Capital LP increased its stake in Ecovyst by 130.7% during the first quarter. Voss Capital LP now owns 1,198,981 shares of the company's stock worth $7,434,000 after acquiring an additional 679,299 shares during the last quarter. Finally, Boston Partners increased its stake in Ecovyst by 30.2% during the fourth quarter. Boston Partners now owns 2,401,811 shares of the company's stock worth $18,405,000 after acquiring an additional 557,249 shares during the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

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.