CECO Environmental Corp. (NASDAQ:CECO) Short Interest Down 12.9% in January

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,830,000 shares, a decline of 12.9% from the January 15th total of 2,100,000 shares. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily volume of 301,400 shares, the short-interest ratio is presently 6.1 days.

CECO Environmental Trading Down 4.6 %

NASDAQ:CECO traded down $1.16 during mid-day trading on Monday, reaching $24.27. 286,725 shares of the company’s stock traded hands, compared to its average volume of 322,316. CECO Environmental has a 12-month low of $18.50 and a 12-month high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company has a 50 day moving average price of $29.73 and a 200-day moving average price of $28.43. The firm has a market capitalization of $848.96 million, a price-to-earnings ratio of 73.55, a PEG ratio of 1.64 and a beta of 1.41.

Analyst Ratings Changes

Several analysts have issued reports on the company. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Needham & Company LLC lowered 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. Craig Hallum raised their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Northland Securities lifted their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CECO Environmental currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after acquiring an additional 591 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of CECO Environmental during the 4th quarter valued at about $74,000. Quest Partners LLC purchased a new position in shares of CECO Environmental during the third quarter valued at about $69,000. Morse Asset Management Inc bought a new position in CECO Environmental in the third quarter worth about $76,000. Finally, Jones Financial Companies Lllp raised its stake in CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company’s stock worth $90,000 after buying an additional 1,658 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.