Ecovyst Inc. (NYSE:ECVT – Get Free Report) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,670,000 shares, an increase of 69.4% from the May 31st total of 985,600 shares. Based on an average daily volume of 743,800 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.6% of the shares of the stock are short sold.
Ecovyst Price Performance
Shares of Ecovyst stock traded up $0.07 on Friday, hitting $8.97. 5,323,083 shares of the company traded hands, compared to its average volume of 722,493. The stock has a market capitalization of $1.05 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.05. The business has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $9.60. Ecovyst has a 52 week low of $8.26 and a 52 week high of $12.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.01 and a current ratio of 2.50.
Ecovyst (NYSE:ECVT – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $160.50 million for the quarter, compared to analysts’ expectations of $171.56 million. Ecovyst had a net margin of 10.70% and a return on equity of 10.83%. Research analysts expect that Ecovyst will post 0.74 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently commented on ECVT. Citigroup raised their price objective 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. BWS Financial reissued a “buy” rating and set a $18.00 price target on shares of Ecovyst in a report on Friday, May 3rd.
Institutional Investors Weigh In On Ecovyst
A number of hedge funds have recently bought and sold shares of ECVT. Quest Partners LLC purchased a new stake in Ecovyst during the 4th quarter valued at $78,000. Paloma Partners Management Co bought a new stake in shares of Ecovyst in the 1st quarter worth about $114,000. SG Americas Securities LLC bought a new stake in shares of Ecovyst in the 4th quarter worth about $150,000. AXQ Capital LP purchased a new position in shares of Ecovyst during the 3rd quarter worth about $159,000. Finally, Bailard Inc. bought a new position in Ecovyst during the 4th quarter valued at about $184,000. Hedge funds and other institutional investors 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.