CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,510,000 shares, a decrease of 9.6% from the September 30th total of 1,670,000 shares. Approximately 5.1% of the shares of the stock are short sold. Based on an average trading volume of 204,300 shares, the days-to-cover ratio is currently 7.4 days.

CECO Environmental Trading Down 1.9 %

NASDAQ CECO traded down $0.46 during trading hours on Friday, hitting $23.34. 233,544 shares of the company’s stock were exchanged, compared to its average volume of 263,491. CECO Environmental has a 12-month low of $15.65 and a 12-month high of $31.55. The business’s 50 day moving average is $27.18 and its 200-day moving average is $26.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The firm has a market capitalization of $816.43 million, a P/E ratio of 72.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same period last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, analysts anticipate that CECO Environmental will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on CECO shares. Craig Hallum lifted their target price on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday. Northland Securities increased their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC lowered their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Roth Mkm boosted their target price on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental has a consensus rating of “Buy” and an average target price of $34.40.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors and hedge funds have recently bought and sold shares of CECO. Principal Financial Group Inc. acquired a new stake in shares of CECO Environmental in the first quarter worth $379,000. Precision Wealth Strategies LLC acquired a new stake in shares of CECO Environmental in the 1st quarter valued at $255,000. BNP Paribas Financial Markets lifted its position in shares of CECO Environmental by 247.5% in the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after buying an additional 31,707 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in CECO Environmental by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in CECO Environmental during the 1st quarter valued at $366,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

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.