Short Interest in Ecovyst Inc. (NYSE:ECVT) Drops By 13.1%

Ecovyst Inc. (NYSE:ECVT) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,450,000 shares, a decline of 13.1% from the November 15th total of 2,820,000 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average trading volume of 922,500 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ECVT. Innealta Capital LLC purchased a new position in Ecovyst in the second quarter valued at about $35,000. CWM LLC boosted its holdings in shares of Ecovyst by 6,920.7% in the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after buying an additional 4,014 shares in the last quarter. Quarry LP lifted its position in Ecovyst by 61.2% during the second quarter. Quarry LP now owns 4,533 shares of the company’s stock valued at $41,000 after acquiring an additional 1,721 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Ecovyst in the third quarter valued at approximately $86,000. Finally, SG Americas Securities LLC purchased a new position in Ecovyst in the second quarter worth $95,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Ecovyst Stock Down 2.1 %

Shares of ECVT traded down $0.16 during mid-day trading on Tuesday, hitting $7.52. The company’s stock had a trading volume of 788,809 shares, compared to its average volume of 873,013. The firm has a market capitalization of $876.16 million, a price-to-earnings ratio of 16.69, a PEG ratio of 1.67 and a beta of 1.06. The company’s 50-day moving average is $7.44 and its 200-day moving average is $7.75. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. Ecovyst has a 52-week low of $6.02 and a 52-week high of $11.35.

Wall Street Analyst Weigh In

Several research firms have commented on ECVT. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research note on Wednesday, December 4th. BMO Capital Markets upped their price target on shares of Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a report 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.