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

Ecovyst Inc. (NYSE:ECVT) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,070,000 shares, an increase of 69.6% from the December 15th total of 1,810,000 shares. Based on an average daily trading volume, of 926,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.9% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BWS Financial restated a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a report on Wednesday, December 4th. Finally, BMO Capital Markets raised their target price on Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd.

Ecovyst Trading Down 0.2 %

Shares of NYSE ECVT traded down $0.02 during midday trading on Friday, reaching $7.84. The stock had a trading volume of 99,789 shares, compared to its average volume of 626,288. Ecovyst has a twelve month low of $6.02 and a twelve month high of $11.35. 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 company’s 50 day moving average price is $7.81 and its 200 day moving average price is $7.52. The firm has a market cap of $913.79 million, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.

Institutional Trading of Ecovyst

Large investors have recently bought and sold shares of the business. Quarry LP lifted its stake in Ecovyst by 61.2% in the second quarter. Quarry LP now owns 4,533 shares of the company’s stock valued at $41,000 after buying an additional 1,721 shares during the period. Arizona State Retirement System lifted its position in shares of Ecovyst by 14.0% during the 2nd quarter. Arizona State Retirement System now owns 32,751 shares of the company’s stock valued at $294,000 after acquiring an additional 4,031 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Ecovyst by 19.8% during the second quarter. The Manufacturers Life Insurance Company now owns 59,633 shares of the company’s stock worth $535,000 after acquiring an additional 9,840 shares in the last quarter. Algert Global LLC acquired a new stake in Ecovyst in the second quarter worth $106,000. Finally, Capstone Investment Advisors LLC bought a new stake in Ecovyst in the third quarter valued at $86,000. 86.69% of the stock is currently 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.