CECO Environmental Corp. (NASDAQ:CECO) Sees Significant Growth in Short Interest

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,210,000 shares, a growth of 9.0% from the February 29th total of 1,110,000 shares. Based on an average daily trading volume, of 233,400 shares, the days-to-cover ratio is presently 5.2 days. Currently, 4.1% of the shares of the company are short sold.

CECO Environmental Price Performance

Shares of CECO traded down $0.01 during mid-day trading on Tuesday, hitting $22.99. 288,768 shares of the stock were exchanged, compared to its average volume of 248,052. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39. The company has a market cap of $803.04 million, a PE ratio of 60.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. CECO Environmental has a 52-week low of $10.68 and a 52-week high of $24.43. The firm has a 50-day moving average of $21.09 and a two-hundred day moving average of $19.22.

CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The company had revenue of $153.71 million for the quarter, compared to the consensus estimate of $149.10 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, equities analysts predict that CECO Environmental will post 0.96 earnings per share for the current year.

Insider Transactions at CECO Environmental

In other news, Director Laurie Siegel purchased 2,500 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. purchased a new stake in CECO Environmental during the first quarter valued at approximately $26,000. Harbour Investments Inc. purchased a new position in shares of CECO Environmental in the 1st quarter worth approximately $33,000. Ameritas Investment Partners Inc. bought a new position in shares of CECO Environmental during the 2nd quarter valued at approximately $33,000. Investors Research Corp purchased a new stake in CECO Environmental during the 2nd quarter valued at $37,000. Finally, AJOVista LLC bought a new stake in CECO Environmental in the fourth quarter worth $57,000. Institutional investors own 68.08% of the company's stock.

Analysts Set New Price Targets

CECO has been the subject of several research analyst reports. Northland Securities increased their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Roth Mkm boosted their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Finally, HC Wainwright raised their target price on shares of CECO Environmental from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $26.50.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.

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