Nexpoint Asset Management L.P. Purchases 260,982 Shares of Ecovyst Inc. $ECVT

Key Points

• Nexpoint Asset Management significantly raised its position in Ecovyst Inc. by 977.3%, acquiring additional shares during the first quarter and now holding approximately 0.25% of the company, valued at $1.78 million.
• Ecovyst's most recent earnings report showed EPS of $0.12, meeting analysts' estimates, with a revenue of $200.10 million, falling short of expected figures.
• Equity analysts have given Ecovyst an average rating of "Buy", with target prices ranging from $10.00 to $12.00 per share, indicating a positive outlook for the stock.

Nexpoint Asset Management L.P. increased its holdings in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 977.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,687 shares of the company's stock after buying an additional 260,982 shares during the period. Nexpoint Asset Management L.P. owned about 0.25% of Ecovyst worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ECVT. BNP Paribas Financial Markets purchased a new position in shares of Ecovyst during the 4th quarter worth approximately $123,000. Bank of America Corp DE raised its holdings in shares of Ecovyst by 58.9% in the fourth quarter. Bank of America Corp DE now owns 1,250,750 shares of the company's stock valued at $9,556,000 after buying an additional 463,435 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ecovyst by 27.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,731 shares of the company's stock valued at $1,900,000 after acquiring an additional 52,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ecovyst by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company's stock worth $506,000 after buying an additional 2,325 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Ecovyst by 39.6% during the 1st quarter. American Century Companies Inc. now owns 379,907 shares of the company's stock worth $2,355,000 after buying an additional 107,761 shares in the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ECVT has been the subject of several recent research reports. BWS Financial restated a "buy" rating and set a $12.00 target price on shares of Ecovyst in a report on Monday, August 11th. Wall Street Zen downgraded shares of Ecovyst from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ecovyst presently has an average rating of "Buy" and an average target price of $10.00.

Ecovyst Stock Performance

ECVT stock traded up $0.12 during trading on Wednesday, reaching $9.09. 1,146,232 shares of the stock were exchanged, compared to its average volume of 1,215,334. The company has a market capitalization of $1.04 billion, a P/E ratio of -75.71, a price-to-earnings-growth ratio of 0.70 and a beta of 1.24. The stock has a 50 day simple moving average of $8.77 and a 200-day simple moving average of $7.58. Ecovyst Inc. has a twelve month low of $5.24 and a twelve month high of $9.31. The company has a current ratio of 2.25, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22.

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

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.