CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,040,000 shares, a decrease of 8.0% from the May 31st total of 1,130,000 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily volume of 278,900 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analyst Weigh In

CECO has been the topic of several research analyst reports. Northland Securities boosted their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Craig Hallum increased their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a research report on Wednesday, May 1st. Roth Mkm upped their price target on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC raised their price objective on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Price Performance

Shares of NASDAQ CECO traded up $0.35 on Wednesday, hitting $28.34. The company’s stock had a trading volume of 164,389 shares, compared to its average volume of 280,881. The stock has a 50 day moving average of $24.81 and a 200-day moving average of $22.44. The company has a market capitalization of $990.09 million, a price-to-earnings ratio of 80.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. CECO Environmental has a 12-month low of $11.46 and a 12-month high of $29.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.19.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. CECO Environmental’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, research analysts predict that CECO Environmental will post 0.94 EPS for the current year.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $24.50 per share, with a total value of $98,000.00. Following the purchase, the director now owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard F. Wallman acquired 4,000 shares of CECO Environmental stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Wallman acquired 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The disclosure for this purchase can be found here. Company insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AJOVista LLC acquired a new stake in shares of CECO Environmental during the 4th quarter worth about $57,000. EntryPoint Capital LLC acquired a new stake in CECO Environmental during the first quarter worth approximately $72,000. Tower Research Capital LLC TRC grew its stake in CECO Environmental by 89.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after acquiring an additional 2,195 shares during the period. Kessler Investment Group LLC acquired a new position in CECO Environmental in the 4th quarter valued at $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CECO Environmental during the 4th quarter worth $159,000. Hedge funds and other 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.