Ecovyst Inc. (NYSE:ECVT) Short Interest Update

Ecovyst Inc. (NYSE:ECVT) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,090,000 shares, a decline of 7.1% from the July 15th total of 2,250,000 shares. Based on an average daily volume of 936,400 shares, the days-to-cover ratio is currently 2.2 days. Currently, 2.0% of the shares of the stock are sold short.

Ecovyst Stock Performance

NYSE ECVT opened at $6.82 on Wednesday. The stock has a fifty day simple moving average of $8.51 and a 200-day simple moving average of $9.31. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. The stock has a market cap of $797.97 million, a PE ratio of 10.83, a P/E/G ratio of 0.53 and a beta of 1.05. Ecovyst has a twelve month low of $6.02 and a twelve month high of $11.35.

Ecovyst (NYSE:ECVT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. Ecovyst’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts anticipate that Ecovyst will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

ECVT has been the topic of several recent research reports. BWS Financial lowered their price target on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Citigroup decreased their target price on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, KeyCorp cut their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th.

Insider Buying and Selling

In other Ecovyst news, insider Joseph S. Koscinski bought 4,807 shares of Ecovyst stock in a transaction dated Monday, August 5th. The stock was acquired 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 directly owns 544,609 shares of the company’s stock, valued at $3,409,252.34. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Paul Whittleston acquired 7,800 shares of Ecovyst stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the transaction, the insider now owns 57,542 shares in the company, valued at approximately $374,023. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph S. Koscinski acquired 4,807 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the purchase, the insider now directly owns 544,609 shares of the company’s stock, valued at approximately $3,409,252.34. The disclosure for this purchase can be found here. 1.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ecovyst

A number of institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. boosted its holdings in Ecovyst by 48.4% during the 4th quarter. Eagle Asset Management Inc. now owns 680,533 shares of the company’s stock valued at $6,649,000 after acquiring an additional 221,979 shares during the period. Paragon Associates & Paragon Associates II Joint Venture boosted its stake in shares of Ecovyst by 200.0% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 300,000 shares of the company’s stock valued at $2,931,000 after purchasing an additional 200,000 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Ecovyst in the first quarter valued at approximately $3,581,000. Sei Investments Co. increased its stake in Ecovyst by 58.3% during the 1st quarter. Sei Investments Co. now owns 521,176 shares of the company’s stock worth $5,811,000 after buying an additional 191,839 shares during the period. Finally, Brigade Capital Management LP lifted its holdings in Ecovyst by 15.6% during the 4th quarter. Brigade Capital Management LP now owns 917,000 shares of the company’s stock worth $8,959,000 after buying an additional 124,000 shares in the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

Ecovyst Company Profile

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.