CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 9.7% in November

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,930,000 shares, an increase of 9.7% from the November 15th total of 1,760,000 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average daily volume of 276,500 shares, the short-interest ratio is presently 7.0 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CECO shares. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a research note on Wednesday, October 30th. Needham & Company LLC dropped their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.40.

Institutional Trading of CECO Environmental

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its stake in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. CWM LLC raised its position in shares of CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after buying an additional 708 shares in the last quarter. Quest Partners LLC bought a new stake in shares of CECO Environmental during the 3rd quarter worth approximately $69,000. Morse Asset Management Inc acquired a new stake in shares of CECO Environmental during the 3rd quarter worth approximately $76,000. Finally, Eastern Bank bought a new position in CECO Environmental in the third quarter valued at approximately $113,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Performance

CECO stock traded down $0.36 during trading hours on Monday, hitting $31.75. 168,493 shares of the stock were exchanged, compared to its average volume of 272,688. The company has a 50-day simple moving average of $28.30 and a two-hundred day simple moving average of $27.64. The firm has a market capitalization of $1.11 billion, a P/E ratio of 97.30, a P/E/G ratio of 2.92 and a beta of 1.41. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data 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 business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same quarter last year, the firm earned $0.22 EPS. CECO Environmental’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts forecast that CECO Environmental will post 0.79 earnings per share for the current fiscal year.

About CECO Environmental

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.