Ecovyst (NYSE:ECVT) Shares Down 5.4% – Here’s Why

Ecovyst Inc. (NYSE:ECVT) shares dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $8.54 and last traded at $8.5720. Approximately 3,571,220 shares traded hands during trading, an increase of 183% from the average daily volume of 1,263,910 shares. The stock had previously closed at $9.06.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price on Ecovyst from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Wall Street Zen lowered shares of Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. KeyCorp dropped 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 reaffirmed a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research note on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Ecovyst Price Performance

The stock has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $8.49. The company has a market capitalization of $985.69 million, a PE ratio of -9.28, a P/E/G ratio of 1.54 and a beta of 1.25. The company has a current ratio of 2.25, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39.

Ecovyst (NYSE:ECVT) last issued its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The business had revenue of $204.91 million for the quarter, compared to analyst estimates of $204.74 million. Ecovyst had a positive return on equity of 8.93% and a negative net margin of 14.34%. Equities analysts anticipate that Ecovyst Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Ecovyst

Several hedge funds have recently made changes to their positions in ECVT. State of Alaska Department of Revenue acquired a new stake in shares of Ecovyst in the third quarter valued at approximately $48,000. CWM LLC increased its position in Ecovyst by 63.0% in the 2nd quarter. CWM LLC now owns 5,946 shares of the company’s stock valued at $49,000 after acquiring an additional 2,298 shares during the period. Parkside Financial Bank & Trust lifted its position in Ecovyst by 1,769.9% during the 2nd 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 during the period. AlphaQuest LLC grew its stake in shares of Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company’s stock valued at $56,000 after purchasing an additional 3,396 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ecovyst during the first quarter worth approximately $78,000. 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.