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

Ecovyst Inc. (NYSE:ECVT) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,640,000 shares, a decrease of 8.4% from the March 15th total of 1,790,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 799,300 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Susan F. Ward sold 24,436 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was 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 at this link. Company insiders own 3.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clear Street Markets LLC purchased a new stake in shares of Ecovyst during the fourth quarter valued at approximately $29,000. US Bancorp DE purchased a new stake in shares of Ecovyst during the second quarter valued at approximately $38,000. Tower Research Capital LLC TRC boosted its stake in shares of Ecovyst by 34.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,793 shares of the company’s stock valued at $47,000 after purchasing an additional 1,216 shares during the period. State of Wyoming purchased a new stake in shares of Ecovyst during the fourth quarter valued at approximately $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Ecovyst during the second quarter valued at approximately $65,000. 86.69% of the stock is currently owned by institutional investors.

Ecovyst Price Performance

Shares of ECVT stock traded down $0.29 during trading on Monday, hitting $10.03. The company had a trading volume of 407,634 shares, compared to its average volume of 770,187. 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 is $9.89 and its two-hundred day moving average is $9.60. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.53 and a beta of 1.01. Ecovyst has a 52 week low of $8.26 and a 52 week high of $12.35.

Ecovyst (NYSE:ECVT) last issued its quarterly 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). Ecovyst had a net margin of 10.30% and a return on equity of 11.08%. The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $168.31 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, analysts predict that Ecovyst will post 0.81 EPS for the current fiscal year.

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.