Ecovyst Inc. (NYSE:ECVT) Short Interest Update

Ecovyst Inc. (NYSE:ECVT) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 2,780,000 shares, a decline of 6.4% from the September 30th total of 2,970,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 2.6 days.

Ecovyst Stock Performance

ECVT traded up $0.66 during trading on Friday, hitting $7.32. 1,576,958 shares of the stock were exchanged, compared to its average volume of 866,964. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $852.56 million, a P/E ratio of 15.25, a PEG ratio of 1.13 and a beta of 1.01. The stock has a fifty day moving average price of $6.63 and a two-hundred day moving average price of $8.15. Ecovyst has a 1-year low of $6.02 and a 1-year high of $11.35.

Ecovyst (NYSE:ECVT) last announced its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The business had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same quarter last year, the company posted $0.26 EPS. Ecovyst’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Ecovyst will post 0.46 earnings per share for the current year.

Insider Activity

In other Ecovyst news, insider Joseph S. Koscinski purchased 4,807 shares of Ecovyst stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $6.26 per share, with a total value of $30,091.82. Following the completion of the transaction, the insider now owns 544,609 shares of the company’s stock, valued at $3,409,252.34. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Joseph S. Koscinski purchased 4,807 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the purchase, the insider now directly owns 544,609 shares of the company’s stock, valued at $3,409,252.34. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Whittleston acquired 7,800 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the transaction, the insider now owns 57,542 shares in the company, valued at approximately $374,023. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Ecovyst

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in Ecovyst by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,635 shares of the company’s stock worth $185,000 after purchasing an additional 1,308 shares in the last quarter. Quarry LP boosted its position in shares of Ecovyst by 61.2% in the 2nd quarter. Quarry LP now owns 4,533 shares of the company’s stock worth $41,000 after buying an additional 1,721 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ecovyst by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,598 shares of the company’s stock valued at $587,000 after acquiring an additional 3,353 shares in the last quarter. Innealta Capital LLC acquired a new position in Ecovyst during the second quarter worth about $35,000. Finally, CWM LLC lifted its holdings in shares of Ecovyst by 6,920.7% in the second quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after purchasing an additional 4,014 shares in the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on ECVT shares. Citigroup dropped their price objective on Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 12th. BWS Financial reissued a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a report on Friday. Finally, KeyCorp cut their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th.

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.