Ecovyst Inc. (NYSE:ECVT) Sees Significant Decrease in Short Interest

Ecovyst Inc. (NYSE:ECVT) saw a significant decline in short interest in 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. Based on an average trading volume of 922,500 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Ecovyst

Hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Ecovyst in the second quarter valued at approximately $35,000. CWM LLC increased its stake 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 purchasing an additional 4,014 shares during the last quarter. Quarry LP increased its stake in shares of Ecovyst by 61.2% in the 2nd quarter. Quarry LP now owns 4,533 shares of the company’s stock valued at $41,000 after purchasing an additional 1,721 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Ecovyst during the 3rd quarter worth $86,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ecovyst during the 2nd quarter worth $95,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Ecovyst Stock Down 1.2 %

ECVT stock opened at $7.48 on Friday. Ecovyst has a 52 week low of $6.02 and a 52 week high of $11.35. The business has a 50-day simple moving average of $7.43 and a 200 day simple moving average of $7.77. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. The company has a market cap of $871.49 million, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06.

Analyst Upgrades and Downgrades

ECVT has been the subject of several analyst reports. BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a research note on Wednesday, December 4th. BMO Capital Markets raised their target price on shares of Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd.

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.