CECO Environmental Corp. (NASDAQ:CECO) Sees Significant Decrease in Short Interest

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,070,000 shares, a decline of 6.1% from the March 31st total of 1,140,000 shares. Based on an average trading volume of 251,100 shares, the days-to-cover ratio is presently 4.3 days. Currently, 3.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC upped their price target on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Mkm lifted their target price on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a research report on Wednesday. Craig Hallum increased their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Northland Securities increased their price target on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.40.

Insider Activity

In other CECO Environmental news, Director Laurie Siegel bought 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the purchase, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds have recently made changes to their positions in the business. AJOVista LLC acquired a new stake in shares of CECO Environmental in the fourth quarter worth $57,000. Tower Research Capital LLC TRC grew its position in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares during the last quarter. Kessler Investment Group LLC bought a new position in shares of CECO Environmental in the fourth quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CECO Environmental during the 4th quarter valued at approximately $159,000. Finally, Boston Partners acquired a new stake in CECO Environmental in the 3rd quarter valued at approximately $201,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

CECO Environmental Stock Up 3.3 %

Shares of CECO Environmental stock traded up $0.72 during trading hours on Wednesday, hitting $22.34. The company had a trading volume of 326,445 shares, compared to its average volume of 254,838. The company has a market cap of $779.00 million, a P/E ratio of 58.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company’s 50-day moving average is $22.62 and its two-hundred day moving average is $20.33. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The company had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts anticipate that CECO Environmental will post 0.96 earnings per share for the current fiscal year.

CECO Environmental Company Profile

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.