CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,930,000 shares, an increase of 9.7% from the November 15th total of 1,760,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average daily volume of 276,500 shares, the short-interest ratio is presently 7.0 days.

CECO Environmental Stock Down 1.9 %

CECO Environmental stock traded down $0.61 during midday trading on Friday, reaching $32.11. The company’s stock had a trading volume of 197,734 shares, compared to its average volume of 273,271. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $1.12 billion, a P/E ratio of 97.30, a PEG ratio of 2.92 and a beta of 1.41. The stock’s 50-day simple moving average is $28.30 and its 200-day simple moving average is $27.63. CECO Environmental has a 52-week low of $18.50 and a 52-week high of $35.16.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, sell-side analysts expect that CECO Environmental will post 0.79 EPS for the current year.

Analysts Set New Price Targets

CECO has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of CECO Environmental in a report on Wednesday, October 30th. Needham & Company LLC reduced their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental currently has a consensus rating of “Buy” and an average price target of $34.40.

Institutional Trading of CECO Environmental

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares during the last quarter. CWM LLC boosted its stake in shares of CECO Environmental by 45.3% in the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares during the last quarter. Quest Partners LLC acquired a new stake in CECO Environmental during the third quarter worth about $69,000. Morse Asset Management Inc purchased a new position in CECO Environmental during the third quarter valued at approximately $76,000. Finally, Eastern Bank acquired a new position in CECO Environmental in the third quarter valued at approximately $113,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About CECO Environmental

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.