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

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 1,830,000 shares, a decrease of 12.9% from the January 15th total of 2,100,000 shares. Approximately 6.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 301,400 shares, the days-to-cover ratio is presently 6.1 days.

CECO Environmental Trading Up 2.1 %

NASDAQ:CECO traded up $0.51 during trading hours on Tuesday, reaching $24.78. The company’s stock had a trading volume of 278,244 shares, compared to its average volume of 293,701. The firm has a market capitalization of $866.78 million, a price-to-earnings ratio of 75.09, a PEG ratio of 1.64 and a beta of 1.41. CECO Environmental has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a 50-day simple moving average of $29.55 and a 200-day simple moving average of $28.41.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CECO shares. Northland Securities increased their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Craig Hallum raised their target price on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reduced their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, HC Wainwright downgraded CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Institutional Investors Weigh In On CECO Environmental

Large investors have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd boosted its stake in CECO Environmental by 86.2% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 66,098 shares of the company’s stock worth $1,998,000 after acquiring an additional 30,598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CECO Environmental by 18.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,137 shares of the company’s stock valued at $2,664,000 after purchasing an additional 13,930 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of CECO Environmental during the fourth quarter valued at approximately $949,000. State of Wyoming raised its holdings in shares of CECO Environmental by 21.7% during the fourth quarter. State of Wyoming now owns 27,156 shares of the company’s stock valued at $821,000 after purchasing an additional 4,844 shares during the last quarter. Finally, Redwood Investments LLC raised its holdings in shares of CECO Environmental by 20.3% during the fourth quarter. Redwood Investments LLC now owns 87,503 shares of the company’s stock valued at $2,645,000 after purchasing an additional 14,742 shares during the last quarter. Institutional investors 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.