Ecovyst (NYSE:ECVT) Reaches New 12-Month High – Here’s What Happened

Ecovyst Inc. (NYSE:ECVT) shares hit a new 52-week high on Wednesday . The stock traded as high as $11.81 and last traded at $11.7750, with a volume of 61064 shares. The stock had previously closed at $11.64.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ECVT. Wall Street Zen upgraded shares of Ecovyst from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp cut their price objective on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, November 10th. BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a research note on Friday, January 2nd. Citigroup boosted their target price on shares of Ecovyst from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 28th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Ecovyst Stock Performance

The company’s fifty day simple moving average is $10.42 and its 200 day simple moving average is $9.30. The stock has a market capitalization of $1.34 billion, a P/E ratio of -12.60, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a current ratio of 2.25, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in Ecovyst during the third quarter valued at approximately $48,000. CWM LLC lifted its holdings in shares of Ecovyst by 63.0% during the 2nd quarter. CWM LLC now owns 5,946 shares of the company’s stock worth $49,000 after acquiring an additional 2,298 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Ecovyst by 1,769.9% in the second quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company’s stock worth $51,000 after acquiring an additional 5,823 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Ecovyst in the third quarter valued at $87,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Ecovyst during the third quarter valued at about $89,000. 86.69% of the stock is currently owned by institutional investors.

About Ecovyst

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.