Ecovyst (NYSE:ECVT) Trading 8.7% Higher

Ecovyst Inc. (NYSE:ECVT) shares rose 8.7% during mid-day trading on Thursday . The stock traded as high as $10.57 and last traded at $10.34. Approximately 356,625 shares changed hands during trading, a decline of 51% from the average daily volume of 721,678 shares. The stock had previously closed at $9.51.

Wall Street Analysts Forecast Growth

Separately, Citigroup upped their target price on shares of Ecovyst from $11.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

Ecovyst Stock Up 5.6 %

The company has a current ratio of 2.07, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.17 billion, a P/E ratio of 16.61, a PEG ratio of 0.48 and a beta of 1.05. The company’s 50 day simple moving average is $9.96 and its 200-day simple moving average is $9.61.

Ecovyst (NYSE:ECVT) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Ecovyst had a net margin of 10.30% and a return on equity of 11.08%. The business had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $168.31 million. During the same period in the previous year, the company earned $0.23 EPS. Ecovyst’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts forecast that Ecovyst Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Susan F. Ward sold 24,436 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.28, for a total transaction of $251,202.08. Following the completion of the sale, the director now owns 67,587 shares of the company’s stock, valued at approximately $694,794.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Ecovyst

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in Ecovyst in the 4th quarter worth approximately $78,000. Quantbot Technologies LP purchased a new stake in Ecovyst in the 3rd quarter worth approximately $88,000. Principal Financial Group Inc. increased its holdings in Ecovyst by 27.6% in the 3rd quarter. Principal Financial Group Inc. now owns 13,217 shares of the company’s stock worth $130,000 after acquiring an additional 2,856 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Ecovyst in the 3rd quarter worth approximately $147,000. Finally, SG Americas Securities LLC purchased a new stake in Ecovyst in the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.