CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 10.0% in December

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 2,210,000 shares, an increase of 10.0% from the December 15th total of 2,010,000 shares. Based on an average daily volume of 289,100 shares, the days-to-cover ratio is presently 7.6 days. Currently, 7.4% of the shares of the stock are sold short.

CECO Environmental Trading Down 7.9 %

Shares of CECO stock traded down $2.55 on Friday, reaching $29.60. 1,752,692 shares of the stock were exchanged, compared to its average volume of 196,027. The firm has a 50 day moving average of $30.71 and a two-hundred day moving average of $28.62. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.04 billion, a P/E ratio of 89.70, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, research analysts anticipate that CECO Environmental will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CECO. HC Wainwright downgraded shares of CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday. Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Securities raised their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.20.

Institutional Trading of CECO Environmental

Several large investors have recently added to or reduced their stakes in CECO. FMR LLC raised its holdings in shares of CECO Environmental by 23.5% during the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after buying an additional 149,777 shares during the period. Geode Capital Management LLC lifted its holdings in CECO Environmental by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after buying an additional 11,857 shares in the last quarter. Driehaus Capital Management LLC boosted its position in CECO Environmental by 37.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after buying an additional 159,485 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of CECO Environmental during the second quarter valued at about $15,495,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of CECO Environmental by 65.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock worth $13,663,000 after acquiring an additional 191,286 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.