Ecovyst (NYSE:ECVT) Sees Large Volume Increase – Here’s Why

Shares of Ecovyst Inc. (NYSE:ECVT) saw strong trading volume on Monday . 1,643,294 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 877,153 shares.The stock last traded at $8.44 and had previously closed at $7.95.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research report on Friday, November 1st. Finally, KeyCorp dropped their price objective on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th.

Ecovyst Price Performance

The business’s fifty day moving average price is $7.18 and its 200 day moving average price is $7.87. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06. The stock has a market cap of $989.17 million, a P/E ratio of 17.98, a PEG ratio of 1.78 and a beta of 1.01.

Hedge Funds Weigh In On Ecovyst

Institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Ecovyst by 27.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,852,925 shares of the company’s stock valued at $88,043,000 after acquiring an additional 2,753,470 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ecovyst by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,210,855 shares of the company’s stock valued at $55,711,000 after purchasing an additional 234,824 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Ecovyst by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,152,089 shares of the company’s stock valued at $35,292,000 after purchasing an additional 49,413 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ecovyst by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,535,792 shares of the company’s stock worth $17,374,000 after purchasing an additional 55,884 shares during the period. Finally, State Street Corp increased its holdings in Ecovyst by 1.4% during the third quarter. State Street Corp now owns 2,426,509 shares of the company’s stock worth $16,622,000 after buying an additional 33,292 shares during 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.