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

Ecovyst Inc. (NYSE:ECVT) saw a significant 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. Currently, 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 926,000 shares, the short-interest ratio is presently 3.3 days.

Institutional Investors Weigh In On Ecovyst

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP increased its stake in Ecovyst by 61.2% in the 2nd 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. Capstone Investment Advisors LLC purchased a new stake in shares of Ecovyst in the 3rd quarter valued at approximately $86,000. Algert Global LLC acquired a new position in Ecovyst in the 2nd quarter worth approximately $106,000. Quantinno Capital Management LP purchased a new position in Ecovyst during the 3rd quarter worth approximately $123,000. Finally, MBB Public Markets I LLC purchased a new stake in shares of Ecovyst in the second quarter valued at $133,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Ecovyst Price Performance

Ecovyst stock traded down $0.01 during mid-day trading on Friday, hitting $7.86. The company’s stock had a trading volume of 91,734 shares, compared to its average volume of 625,731. Ecovyst has a twelve month low of $6.02 and a twelve month high of $11.35. The stock’s fifty day moving average price is $7.81 and its two-hundred day moving average price is $7.52. The stock has a market capitalization of $915.19 million, a P/E ratio of 17.08, a P/E/G ratio of 1.01 and a beta of 1.05. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ECVT shares. BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Wednesday, December 4th. Citigroup upped their target price on Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price objective on Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd.

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.