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

Ecovyst Inc. (NYSE:ECVT - Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 1,270,000 shares, a decrease of 39.5% from the April 15th total of 2,100,000 shares. Based on an average trading volume of 797,200 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BWS Financial reaffirmed a "buy" rating and set a $18.00 target price on shares of Ecovyst in a research note on Friday, May 3rd. Citigroup lifted their price target on shares of Ecovyst from $11.50 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th.

Ecovyst Trading Down 0.2 %

Shares of Ecovyst stock traded down $0.02 on Friday, reaching $9.78. The company had a trading volume of 510,011 shares, compared to its average volume of 637,913. The firm's 50 day moving average price is $9.97 and its two-hundred day moving average price is $9.64. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.69 and a current ratio of 2.50. Ecovyst has a 52-week low of $8.26 and a 52-week high of $12.35. The firm has a market cap of $1.14 billion, a PE ratio of 15.52, a PEG ratio of 0.53 and a beta of 1.05.

Ecovyst (NYSE:ECVT - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Ecovyst had a net margin of 10.70% and a return on equity of 10.83%. The firm had revenue of $172.80 million during the quarter, compared to analysts' expectations of $168.31 million. During the same period in the previous year, the firm earned $0.23 EPS. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Ecovyst will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Ecovyst

In related news, Director Susan F. Ward sold 24,436 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $10.28, for a total transaction of $251,202.08. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.59% of the company's stock.

Hedge Funds Weigh In On Ecovyst

Several institutional investors have recently bought and sold shares of ECVT. Vanguard Group Inc. increased its holdings in Ecovyst by 11.7% in the third quarter. Vanguard Group Inc. now owns 10,795,380 shares of the company's stock valued at $106,227,000 after buying an additional 1,128,473 shares during the last quarter. Swiss National Bank lifted its stake in Ecovyst by 1.0% during the third quarter. Swiss National Bank now owns 229,900 shares of the company's stock worth $2,262,000 after purchasing an additional 2,300 shares during the last quarter. Pathstone Family Office LLC acquired a new position in Ecovyst in the third quarter valued at approximately $499,000. Cove Street Capital LLC raised its holdings in Ecovyst by 6.6% during the third quarter. Cove Street Capital LLC now owns 1,971,344 shares of the company's stock worth $19,280,000 after purchasing an additional 122,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Ecovyst by 19.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,410,689 shares of the company's stock worth $13,881,000 after buying an additional 231,294 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

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.