Ecovyst (NYSE:ECVT) Trading Down 5.4% – Here’s Why

Ecovyst Inc. (NYSE:ECVT) traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $8.54 and last traded at $8.5720. 3,571,220 shares traded hands during mid-day trading, an increase of 183% from the average session volume of 1,263,910 shares. The stock had previously closed at $9.06.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ECVT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ecovyst in a research report on Wednesday, October 8th. BMO Capital Markets upped their target price on Ecovyst from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Wall Street Zen cut Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. KeyCorp dropped their price target on Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Ecovyst Stock Performance

The stock has a market capitalization of $997.10 million, a PE ratio of -9.40, a PEG ratio of 1.35 and a beta of 1.25. The company has a quick ratio of 2.07, a current ratio of 2.25 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $8.49 and a 200-day moving average price of $8.50.

Ecovyst (NYSE:ECVT) last issued its earnings results on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Ecovyst had a negative net margin of 14.34% and a positive return on equity of 8.93%. The firm had revenue of $204.91 million during the quarter, compared to analysts’ expectations of $204.74 million. Research analysts expect that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Ecovyst by 10.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,106,949 shares of the company’s stock worth $13,063,000 after purchasing an additional 203,801 shares during the period. Simplex Trading LLC purchased a new stake in Ecovyst during the first quarter worth $116,000. Nuveen LLC acquired a new stake in Ecovyst during the first quarter valued at $5,448,000. American Century Companies Inc. increased its holdings in Ecovyst by 39.6% in the first quarter. American Century Companies Inc. now owns 379,907 shares of the company’s stock valued at $2,355,000 after buying an additional 107,761 shares in the last quarter. Finally, First Wilshire Securities Management Inc. raised its position in shares of Ecovyst by 12.6% in the first quarter. First Wilshire Securities Management Inc. now owns 2,219,462 shares of the company’s stock worth $13,761,000 after acquiring an additional 247,794 shares during the period. 86.69% of the stock is currently owned by institutional investors and hedge funds.

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.