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

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant decline in short interest in 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. Based on an average trading volume of 301,400 shares, the short-interest ratio is currently 6.1 days. Approximately 6.2% of the company’s stock are short sold.

CECO Environmental Stock Down 4.6 %

Shares of CECO traded down $1.16 on Monday, hitting $24.27. 286,725 shares of the stock traded hands, compared to its average volume of 322,316. CECO Environmental has a one year low of $18.50 and a one year high of $35.16. The company has a market capitalization of $848.96 million, a PE ratio of 73.55, a P/E/G ratio of 1.64 and a beta of 1.41. The business has a 50 day simple moving average of $29.73 and a 200 day simple moving average of $28.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CECO shares. Needham & Company LLC cut their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Craig Hallum lifted their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Institutional Trading of CECO Environmental

A number of institutional investors and hedge funds have recently modified their holdings of CECO. Capital International Investors lifted its holdings in shares of CECO Environmental by 12.1% during the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock valued at $59,593,000 after purchasing an additional 212,476 shares in the last quarter. Hood River Capital Management LLC lifted its stake in CECO Environmental by 63.0% during the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock valued at $52,623,000 after acquiring an additional 673,050 shares during the period. Vanguard Group Inc. lifted its stake in CECO Environmental by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock valued at $49,839,000 after acquiring an additional 9,023 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of CECO Environmental by 2.3% during the 4th quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock valued at $31,251,000 after acquiring an additional 23,239 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of CECO Environmental by 27.2% in the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock worth $27,667,000 after acquiring an additional 195,425 shares during the period. 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.