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

Ecovyst Inc. (NYSE:ECVT) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,450,000 shares, a drop of 13.1% from the November 15th total of 2,820,000 shares. Based on an average daily volume of 922,500 shares, the short-interest ratio is currently 2.7 days. Approximately 2.3% of the shares of the stock are sold short.

Ecovyst Stock Performance

Shares of Ecovyst stock traded down $0.20 on Tuesday, reaching $7.48. 204,210 shares of the stock were exchanged, compared to its average volume of 871,990. The business has a 50 day moving average price of $7.44 and a two-hundred day moving average price of $7.75. The firm has a market capitalization of $871.49 million, a price-to-earnings ratio of 16.69, a PEG ratio of 1.67 and a beta of 1.06. Ecovyst has a twelve month low of $6.02 and a twelve month high of $11.35. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. BWS Financial reissued a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Ecovyst during the second quarter worth approximately $35,000. CWM LLC lifted its stake in Ecovyst by 6,920.7% during the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $37,000 after acquiring an additional 4,014 shares in the last quarter. Quarry LP lifted its stake in Ecovyst by 61.2% during the 2nd quarter. Quarry LP now owns 4,533 shares of the company’s stock worth $41,000 after acquiring an additional 1,721 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Ecovyst during the 3rd quarter worth about $86,000. Finally, SG Americas Securities LLC purchased a new stake in Ecovyst during the 2nd quarter worth about $95,000. 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.