Ecovyst Inc. (NYSE:ECVT) Short Interest Down 10.0% in October

Ecovyst Inc. (NYSE:ECVTGet Rating) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,440,000 shares, a decrease of 10.0% from the October 15th total of 1,600,000 shares. Based on an average daily trading volume, of 533,400 shares, the short-interest ratio is currently 2.7 days. Currently, 2.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on shares of Ecovyst from $11.00 to $9.50 in a research report on Tuesday, October 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Insiders Place Their Bets

In related news, Director Robert Coxon purchased 10,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $8.70 per share, for a total transaction of $87,000.00. Following the acquisition, the director now owns 195,054 shares of the company’s stock, valued at approximately $1,696,969.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Ecovyst by 112.7% in the third quarter. Tower Research Capital LLC TRC now owns 6,450 shares of the company’s stock valued at $55,000 after buying an additional 3,417 shares in the last quarter. Sandia Investment Management LP acquired a new position in Ecovyst during the 3rd quarter worth approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Ecovyst during the 2nd quarter valued at $65,000. Amalgamated Bank acquired a new stake in Ecovyst during the 1st quarter valued at approximately $71,000. Finally, Lazard Asset Management LLC grew its position in shares of Ecovyst by 576.0% during the second quarter. Lazard Asset Management LLC now owns 8,085 shares of the company’s stock worth $79,000 after buying an additional 6,889 shares in the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Ecovyst Trading Up 1.6 %

Shares of ECVT stock opened at $8.92 on Friday. The company has a 50 day moving average price of $9.18 and a 200 day moving average price of $9.62. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.04 and a current ratio of 2.41. Ecovyst has a fifty-two week low of $8.20 and a fifty-two week high of $12.05. The stock has a market capitalization of $1.16 billion, a P/E ratio of 21.24 and a beta of 0.90.

About Ecovyst

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Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.

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