CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,510,000 shares, a decrease of 9.6% from the September 30th total of 1,670,000 shares. Based on an average daily trading volume, of 204,300 shares, the days-to-cover ratio is presently 7.4 days. Approximately 5.1% of the company’s shares are short sold.

CECO Environmental Stock Performance

CECO Environmental stock traded down $0.46 during mid-day trading on Friday, reaching $23.34. The company’s stock had a trading volume of 233,544 shares, compared to its average volume of 263,491. CECO Environmental has a 12-month low of $15.65 and a 12-month high of $31.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The company has a market capitalization of $816.43 million, a P/E ratio of 72.12, a PEG ratio of 2.00 and a beta of 1.33. The firm’s fifty day moving average price is $27.18 and its two-hundred day moving average price is $26.46.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. Sell-side analysts predict that CECO Environmental will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard F. Wallman purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $28.77 per share, with a total value of $287,700.00. Following the completion of the purchase, the director now directly owns 62,000 shares of the company’s stock, valued at $1,783,740. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CECO. CWM LLC boosted its stake in CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of CECO Environmental during the 1st quarter valued at $72,000. Eastern Bank bought a new position in shares of CECO Environmental during the third quarter valued at approximately $113,000. SG Americas Securities LLC purchased a new stake in CECO Environmental during the 2nd quarter valued at about $201,000. Finally, Kessler Investment Group LLC increased its stake in CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after purchasing an additional 1,560 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CECO shares. Northland Securities boosted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC decreased their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Mkm raised their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $34.40.

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.