Ecovyst Inc. (NYSE:ECVT) Sees Significant Increase in Short Interest

Ecovyst Inc. (NYSE:ECVT - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 2,100,000 shares, a growth of 28.0% from the March 31st total of 1,640,000 shares. Based on an average daily trading volume, of 766,200 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their target price on Ecovyst from $11.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th.

Ecovyst Price Performance

Ecovyst stock traded up $0.01 during midday trading on Friday, hitting $9.91. The company's stock had a trading volume of 304,761 shares, compared to its average volume of 519,156. Ecovyst has a 12 month low of $8.26 and a 12 month high of $12.35. The company has a quick ratio of 1.69, a current ratio of 2.07 and a debt-to-equity ratio of 1.22. The stock's 50-day moving average price is $9.97 and its 200-day moving average price is $9.61. The company has a market capitalization of $1.16 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.51 and a beta of 1.01.

Ecovyst (NYSE:ECVT - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $172.80 million during the quarter, compared to the consensus estimate of $168.31 million. Ecovyst had a return on equity of 11.08% and a net margin of 10.30%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts anticipate that Ecovyst will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Susan F. Ward sold 24,436 shares of Ecovyst stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.28, for a total transaction of $251,202.08. Following the sale, the director now directly owns 67,587 shares in the company, valued at $694,794.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.59% of the company's stock.

Institutional Investors Weigh In On Ecovyst

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Ecovyst during the 4th quarter worth about $78,000. Quantbot Technologies LP acquired a new stake in shares of Ecovyst during the third quarter valued at approximately $88,000. Principal Financial Group Inc. lifted its position in shares of Ecovyst by 27.6% in the 3rd quarter. Principal Financial Group Inc. now owns 13,217 shares of the company's stock valued at $130,000 after acquiring an additional 2,856 shares in the last quarter. Aigen Investment Management LP acquired a new position in Ecovyst in the 3rd quarter worth approximately $147,000. Finally, SG Americas Securities LLC purchased a new position in Ecovyst during the 4th quarter worth approximately $150,000. Institutional investors and hedge funds own 86.69% of the company's stock.

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.