Ecovyst (NYSE:ECVT) Sees Unusually-High Trading Volume – Still a Buy?

Ecovyst Inc. (NYSE:ECVT) shares saw unusually-high trading volume on Friday . Approximately 1,032,186 shares traded hands during trading, an increase of 20% from the previous session’s volume of 863,305 shares.The stock last traded at $7.10 and had previously closed at $6.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ECVT shares. BWS Financial reaffirmed a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a research report on Friday. KeyCorp decreased their price objective on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Citigroup cut their target price on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, July 12th.

Ecovyst Stock Performance

The company has a 50-day moving average of $6.63 and a 200-day moving average of $8.15. The firm has a market capitalization of $852.56 million, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19.

Ecovyst (NYSE:ECVT) last issued its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The business had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts forecast that Ecovyst Inc. will post 0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul Whittleston acquired 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $6.50 per share, with a total value of $50,700.00. Following the acquisition, the insider now directly owns 57,542 shares in the company, valued at approximately $374,023. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph S. Koscinski bought 4,807 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $6.26 per share, with a total value of $30,091.82. Following the completion of the acquisition, the insider now directly owns 544,609 shares in the company, valued at approximately $3,409,252.34. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Whittleston bought 7,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $6.50 per share, with a total value of $50,700.00. Following the completion of the transaction, the insider now directly owns 57,542 shares of the company’s stock, valued at $374,023. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.59% of the company’s stock.

Institutional Trading of Ecovyst

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its position in Ecovyst by 58.3% in the first quarter. Sei Investments Co. now owns 521,176 shares of the company’s stock worth $5,811,000 after buying an additional 191,839 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ecovyst by 27.4% during the second quarter. Bank of New York Mellon Corp now owns 459,343 shares of the company’s stock worth $4,120,000 after purchasing an additional 98,719 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Ecovyst by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 5,026,022 shares of the company’s stock valued at $56,040,000 after purchasing an additional 178,001 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Ecovyst by 20.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,729,796 shares of the company’s stock valued at $15,516,000 after purchasing an additional 292,637 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Ecovyst by 19.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,633 shares of the company’s stock worth $535,000 after purchasing an additional 9,840 shares in the last quarter. Institutional investors own 86.69% of the company’s stock.

Ecovyst Company Profile

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.