Ecovyst Inc. (NYSE:ECVT) Short Interest Down 6.4% in October

Ecovyst Inc. (NYSE:ECVT) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,780,000 shares, a decrease of 6.4% from the September 30th total of 2,970,000 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

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

Ecovyst Stock Up 9.9 %

Shares of ECVT traded up $0.66 during midday trading on Friday, hitting $7.32. The company had a trading volume of 1,576,958 shares, compared to its average volume of 866,964. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. Ecovyst has a 52 week low of $6.02 and a 52 week high of $11.35. The company’s 50 day moving average price is $6.63 and its 200 day moving average price is $8.15. The stock has a market cap of $852.56 million, a price-to-earnings ratio of 15.25, a PEG ratio of 1.13 and a beta of 1.01.

Ecovyst (NYSE:ECVT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The firm had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same quarter in the previous year, the company earned $0.26 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Ecovyst will post 0.46 EPS for the current year.

Insider Activity

In related news, insider Paul Whittleston purchased 7,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $6.50 per share, with a total value of $50,700.00. Following the completion of the purchase, the insider now directly owns 57,542 shares in the company, valued at approximately $374,023. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ecovyst news, insider Paul Whittleston bought 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $6.50 per share, with a total value of $50,700.00. Following the transaction, the insider now owns 57,542 shares in the company, valued at $374,023. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph S. Koscinski purchased 4,807 shares of Ecovyst stock in a transaction on Monday, August 5th. The shares were 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 owns 544,609 shares of the company’s stock, valued at $3,409,252.34. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Ecovyst

Large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in shares of Ecovyst by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,635 shares of the company’s stock worth $185,000 after purchasing an additional 1,308 shares during the period. Quarry LP raised its holdings 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 purchasing an additional 1,721 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Ecovyst by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 52,598 shares of the company’s stock worth $587,000 after purchasing an additional 3,353 shares during the period. Innealta Capital LLC bought a new position in Ecovyst during the 2nd quarter valued at $35,000. Finally, CWM LLC increased its position in shares of Ecovyst by 6,920.7% during the 2nd 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 period. 86.69% of the stock is currently owned by institutional investors.

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.