Short Interest in CECO Environmental Corp. (NASDAQ:CECO) Decreases By 6.1%

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,070,000 shares, a drop of 6.1% from the March 31st total of 1,140,000 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 251,100 shares, the short-interest ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

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

CECO Environmental Trading Down 14.8 %

Shares of CECO Environmental stock traded down $3.77 on Tuesday, hitting $21.62. 1,040,374 shares of the company's stock traded hands, compared to its average volume of 254,281. CECO Environmental has a one year low of $10.68 and a one year high of $25.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22. The stock has a market capitalization of $753.89 million, a PE ratio of 58.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. The firm's 50-day moving average price is $22.59 and its two-hundred day moving average price is $20.30.

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

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel purchased 2,500 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $19.87 per share, with a total value of $49,675.00. Following the acquisition, the director now directly owns 7,906 shares of the company's stock, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.90% of the company's stock.

Institutional Trading of CECO Environmental

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company's stock valued at $10,047,000 after acquiring an additional 459,646 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of CECO Environmental during the 3rd quarter worth about $7,037,000. Loomis Sayles & Co. L P acquired a new position in CECO Environmental in the 3rd quarter valued at about $6,891,000. RK Capital Management LLC lifted its position in CECO Environmental by 36.6% during the third quarter. RK Capital Management LLC now owns 884,347 shares of the company's stock worth $14,123,000 after acquiring an additional 237,093 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in shares of CECO Environmental during the fourth quarter worth approximately $4,153,000. Institutional investors own 68.08% of the company's stock.

About CECO Environmental

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.