Short Interest in Ecovyst Inc. (NYSE:ECVT) Expands By 26.8%

Ecovyst Inc. (NYSE:ECVT) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,450,000 shares, a growth of 26.8% from the February 13th total of 2,720,000 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily trading volume, of 816,200 shares, the days-to-cover ratio is presently 4.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ECVT. Spire Wealth Management lifted its stake in Ecovyst by 72.9% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ecovyst by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company’s stock valued at $506,000 after buying an additional 2,325 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Ecovyst by 18.4% during the 4th quarter. EP Wealth Advisors LLC now owns 30,567 shares of the company’s stock worth $234,000 after acquiring an additional 4,743 shares during the period. Needham Investment Management LLC increased its holdings in Ecovyst by 0.5% in the 4th quarter. Needham Investment Management LLC now owns 920,000 shares of the company’s stock worth $7,029,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Ecovyst by 23.4% in the 4th quarter. Marshall Wace LLP now owns 29,000 shares of the company’s stock valued at $222,000 after acquiring an additional 5,500 shares during the period. 86.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ECVT. BWS Financial reissued a “buy” rating and set a $12.00 price target on shares of Ecovyst in a research report on Friday, February 28th. BMO Capital Markets decreased their price objective on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Citigroup lifted their target price on shares of Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th.

Ecovyst Stock Performance

NYSE ECVT traded down $0.04 during trading hours on Monday, reaching $6.71. 855,195 shares of the company were exchanged, compared to its average volume of 881,598. The stock has a market capitalization of $786.95 million, a P/E ratio of 14.58, a P/E/G ratio of 1.04 and a beta of 1.04. The company has a quick ratio of 2.06, a current ratio of 2.54 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 business’s 50 day simple moving average is $7.60 and its 200-day simple moving average is $7.37.

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.