CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 8.6% in September

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,650,000 shares, an increase of 8.6% from the August 31st total of 1,520,000 shares. Based on an average trading volume of 289,500 shares, the days-to-cover ratio is currently 5.7 days. Approximately 5.6% of the company’s stock are short sold.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at $1,783,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after purchasing an additional 708 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CECO Environmental during the first quarter worth approximately $72,000. SG Americas Securities LLC bought a new stake in shares of CECO Environmental in the second quarter worth $201,000. Kessler Investment Group LLC raised its holdings in CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Arizona State Retirement System bought a new position in CECO Environmental during the 2nd quarter valued at $239,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Wall Street Analyst Weigh In

CECO has been the subject of a number of recent research reports. Roth Mkm lifted their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Craig Hallum lifted their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Northland Securities boosted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. HC Wainwright lifted their target price on CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC increased their target price on CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and an average price target of $34.80.

CECO Environmental Stock Performance

Shares of CECO stock traded up $0.42 during mid-day trading on Friday, hitting $29.01. The stock had a trading volume of 177,318 shares, compared to its average volume of 267,170. The firm has a market cap of $1.01 billion, a PE ratio of 82.89, a PEG ratio of 1.99 and a beta of 1.33. The company’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $25.86. CECO Environmental has a fifty-two week low of $15.27 and a fifty-two week high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million for the quarter, compared to the consensus estimate of $143.33 million. During the same period in the previous year, the business earned $0.15 earnings per share. CECO Environmental’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that CECO Environmental will post 0.93 earnings per share for the current year.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.