Ecovyst (NYSE:ECVT) Stock Price Up 8.7%

Ecovyst Inc. (NYSE:ECVT - Get Free Report)'s stock price shot up 8.7% during mid-day trading on Thursday . The company traded as high as $10.57 and last traded at $10.34. 356,625 shares were traded during mid-day trading, a decline of 51% from the average session volume of 721,678 shares. The stock had previously closed at $9.51.

Wall Street Analysts Forecast Growth

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

Ecovyst Stock Up 5.0 %

The company has a debt-to-equity ratio of 1.22, a current ratio of 2.07 and a quick ratio of 1.69. The company has a market cap of $1.17 billion, a PE ratio of 16.46, a P/E/G ratio of 0.48 and a beta of 1.05. The business's 50 day moving average is $9.96 and its 200-day moving average is $9.61.

Ecovyst (NYSE:ECVT - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $172.80 million for the quarter, compared to analysts' expectations of $168.31 million. Ecovyst had a return on equity of 11.08% and a net margin of 10.30%. Ecovyst's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, analysts predict that Ecovyst Inc. will post 0.81 EPS for the current year.

Insider Activity

In other Ecovyst news, Director Susan F. Ward sold 24,436 shares of the firm's stock in a transaction that occurred on 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 owns 67,587 shares of the company's stock, valued at $694,794.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.59% of the company's stock.

Hedge Funds Weigh In On Ecovyst

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ecovyst by 0.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,113,232 shares of the company's stock valued at $57,013,000 after purchasing an additional 15,190 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Ecovyst during the first quarter worth approximately $3,581,000. Paragon Associates & Paragon Associates II Joint Venture lifted its stake in Ecovyst by 200.0% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 300,000 shares of the company's stock valued at $2,931,000 after buying an additional 200,000 shares during the last quarter. Grizzlyrock Capital LLC acquired a new stake in shares of Ecovyst in the fourth quarter valued at approximately $4,895,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Ecovyst by 1.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,661,635 shares of the company's stock worth $65,084,000 after acquiring an additional 66,310 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company's stock.

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.