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

Ecovyst Inc. (NYSE:ECVT) was the recipient of a large drop in short interest during 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. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 922,500 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

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

Ecovyst Price Performance

Ecovyst stock traded down $0.20 during midday trading on Tuesday, reaching $7.48. 204,210 shares of the company were exchanged, compared to its average volume of 871,990. The company has a market capitalization of $871.49 million, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.67 and a beta of 1.06. 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 $7.44 and its 200-day simple moving average is $7.75. Ecovyst has a 1 year low of $6.02 and a 1 year high of $11.35.

Hedge Funds Weigh In On Ecovyst

Several institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Ecovyst in the 2nd quarter valued at $35,000. CWM LLC increased its stake in Ecovyst by 6,920.7% in the second quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after purchasing an additional 4,014 shares during the last quarter. Quarry LP lifted its position in Ecovyst by 61.2% during the second quarter. Quarry LP now owns 4,533 shares of the company’s stock worth $41,000 after buying an additional 1,721 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Ecovyst in the 3rd quarter worth about $86,000. Finally, SG Americas Securities LLC purchased a new stake in Ecovyst in the 2nd quarter valued at about $95,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.