Ecovyst Inc. (NYSE:ECVT) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ECVT. BWS Financial reduced their target price on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 5th. KeyCorp reduced their target price on Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Citigroup reduced their target price on Ecovyst from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, July 12th.

Insider Transactions at Ecovyst

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

Institutional Trading of Ecovyst

Several large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in Ecovyst by 84.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,756,363 shares of the company’s stock valued at $12,031,000 after buying an additional 805,128 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Ecovyst by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,152,089 shares of the company’s stock valued at $35,292,000 after buying an additional 49,413 shares in the last quarter. Creative Planning acquired a new position in shares of Ecovyst in the 3rd quarter valued at $310,000. Wedge Capital Management L L P NC lifted its stake in shares of Ecovyst by 12.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 548,857 shares of the company’s stock valued at $3,760,000 after purchasing an additional 59,331 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Ecovyst by 179.6% in the 3rd quarter. SG Americas Securities LLC now owns 29,516 shares of the company’s stock valued at $202,000 after purchasing an additional 18,959 shares during the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Ecovyst Stock Up 1.4 %

Shares of ECVT opened at $6.37 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.18 and a current ratio of 2.72. Ecovyst has a one year low of $6.02 and a one year high of $11.35. The stock has a market capitalization of $741.89 million, a price-to-earnings ratio of 13.27, a PEG ratio of 1.09 and a beta of 1.01. The stock has a 50 day moving average price of $6.63 and a 200 day moving average price of $8.16.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $182.80 million for the quarter, compared to analysts’ expectations of $189.79 million. Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts forecast that Ecovyst will post 0.46 earnings per share for the current fiscal year.

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.