Ecovyst (NYSE:ECVT) Shares Gap Down – Here’s What Happened

Ecovyst Inc. (NYSE:ECVT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.85, but opened at $7.60. Ecovyst shares last traded at $7.83, with a volume of 114,241 shares traded.

Analyst Ratings Changes

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

Ecovyst Price Performance

The company has a market capitalization of $912.86 million, a price-to-earnings ratio of 17.03, a PEG ratio of 1.05 and a beta of 1.05. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The company’s 50 day simple moving average is $7.78 and its 200-day simple moving average is $7.49.

Institutional Investors Weigh In On Ecovyst

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of Ecovyst by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 184,125 shares of the company’s stock valued at $1,652,000 after purchasing an additional 21,032 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ecovyst by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,210,855 shares of the company’s stock valued at $55,711,000 after acquiring an additional 234,824 shares during the last quarter. Renaissance Technologies LLC grew its position in Ecovyst by 11.5% during the second quarter. Renaissance Technologies LLC now owns 339,400 shares of the company’s stock valued at $3,044,000 after acquiring an additional 35,000 shares during the period. Sei Investments Co. increased its stake in Ecovyst by 57.1% during the second quarter. Sei Investments Co. now owns 818,770 shares of the company’s stock worth $7,344,000 after acquiring an additional 297,594 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Ecovyst during the second quarter worth about $1,322,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Ecovyst

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.