Jane Street Group LLC Decreases Position in Ecovyst Inc. (NYSE:ECVT)

Jane Street Group LLC trimmed its stake in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 85.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,427 shares of the company's stock after selling 77,880 shares during the period. Jane Street Group LLC's holdings in Ecovyst were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in shares of Ecovyst by 8.5% during the fourth quarter. Northern Trust Corp now owns 1,064,745 shares of the company's stock valued at $8,135,000 after purchasing an additional 83,408 shares during the last quarter. Quarry LP raised its holdings in shares of Ecovyst by 485.0% during the fourth quarter. Quarry LP now owns 13,724 shares of the company's stock valued at $105,000 after purchasing an additional 11,378 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Ecovyst during the fourth quarter valued at approximately $539,000. Price T Rowe Associates Inc. MD grew its position in Ecovyst by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,355 shares of the company's stock valued at $546,000 after buying an additional 7,086 shares during the period. Finally, Dark Forest Capital Management LP grew its position in Ecovyst by 222.8% during the fourth quarter. Dark Forest Capital Management LP now owns 70,465 shares of the company's stock valued at $538,000 after buying an additional 48,637 shares during the period. 86.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ECVT. BMO Capital Markets cut their target price on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. BWS Financial restated a "buy" rating and set a $12.00 target price on shares of Ecovyst in a research report on Monday, May 5th.

Ecovyst Stock Performance

Shares of NYSE ECVT opened at $8.00 on Friday. The firm has a 50 day moving average of $6.63 and a 200 day moving average of $7.22. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $938.97 million, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.12. Ecovyst Inc. has a 12-month low of $5.24 and a 12-month high of $9.92.

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

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.

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