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 February. As of February 28th, there was short interest totalling 3,450,000 shares, an increase of 26.8% from the February 13th total of 2,720,000 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily volume of 816,200 shares, the days-to-cover ratio is presently 4.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ECVT. Spire Wealth Management boosted its stake in shares of Ecovyst by 72.9% in the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock valued at $34,000 after purchasing an additional 1,896 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Ecovyst in the 4th quarter valued at about $79,000. Bridgefront Capital LLC acquired a new stake in shares of Ecovyst in the 4th quarter valued at approximately $81,000. Cibc World Markets Corp acquired a new stake in shares of Ecovyst in the 4th quarter valued at approximately $83,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Ecovyst in the 3rd quarter valued at approximately $86,000. Institutional investors own 86.69% of the company’s stock.

Ecovyst Stock Down 0.2 %

Shares of NYSE ECVT opened at $6.68 on Wednesday. The firm has a market capitalization of $783.42 million, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.04 and a beta of 1.04. 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 1 year low of $6.02 and a 1 year high of $11.35. The firm’s 50-day moving average is $7.59 and its 200-day moving average is $7.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ECVT shares. BMO Capital Markets lowered their target price on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Citigroup increased their price objective on shares of Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, BWS Financial reissued a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a report on Friday, February 28th.

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.