CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 17.3% in June

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 1,220,000 shares, an increase of 17.3% from the June 15th total of 1,040,000 shares. Based on an average trading volume of 315,000 shares, the short-interest ratio is currently 3.9 days. Currently, 4.1% of the company’s shares are sold short.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the transaction, the director now directly owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Wallman acquired 4,000 shares of CECO Environmental stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $24.50 per share, with a total value of $98,000.00. Following the purchase, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CECO Environmental by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after buying an additional 24,812 shares during the period. Wellington Management Group LLP raised its stake in CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after acquiring an additional 459,646 shares during the period. First Eagle Investment Management LLC boosted its position in CECO Environmental by 22.7% during the first quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock worth $13,648,000 after purchasing an additional 109,500 shares during the period. Russell Investments Group Ltd. increased its stake in shares of CECO Environmental by 28.3% in the fourth quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock worth $9,090,000 after purchasing an additional 98,951 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in shares of CECO Environmental by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 338,640 shares of the company’s stock valued at $7,795,000 after purchasing an additional 14,690 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Stock Performance

Shares of CECO stock traded up $0.07 during trading on Monday, hitting $28.97. The company’s stock had a trading volume of 108,393 shares, compared to its average volume of 279,775. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.01 billion, a PE ratio of 82.57, a P/E/G ratio of 2.07 and a beta of 1.37. The business has a fifty day moving average of $25.48 and a 200-day moving average of $22.82. CECO Environmental has a 52 week low of $11.46 and a 52 week high of $29.55.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $126.30 million during the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. As a group, research analysts anticipate that CECO Environmental will post 0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

CECO has been the subject of a number of recent research reports. Craig Hallum boosted their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC raised their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $27.40.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.