Ecovyst (NYSE:ECVT) Reaches New 1-Year Low – Here’s What Happened

Shares of Ecovyst Inc. (NYSE:ECVT) reached a new 52-week low on Thursday . The company traded as low as $5.92 and last traded at $6.03, with a volume of 228537 shares trading hands. The stock had previously closed at $6.46.

Analysts Set New Price Targets

Several research firms recently commented on ECVT. BMO Capital Markets lowered their target price on Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Citigroup increased their price objective on Ecovyst from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research note on Friday, February 28th.

Ecovyst Stock Performance

The company has a market cap of $654.32 million, a price-to-earnings ratio of 12.12, a PEG ratio of 1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54. The firm’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $7.32.

Institutional Investors Weigh In On Ecovyst

A number of hedge funds have recently bought and sold shares of ECVT. Spire Wealth Management boosted its holdings in shares of Ecovyst by 72.9% in the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock valued at $34,000 after acquiring an additional 1,896 shares during the period. Versant Capital Management Inc grew its stake in shares of Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company’s stock valued at $32,000 after purchasing an additional 3,489 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Ecovyst in the fourth quarter valued at approximately $79,000. Bridgefront Capital LLC purchased a new stake in shares of Ecovyst during the fourth quarter worth approximately $81,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Ecovyst during the fourth quarter worth $83,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.