CECO Environmental Corp. (NASDAQ:CECE) Short Interest Up 45.7% in April

CECO Environmental Corp. (NASDAQ:CECE – Get Rating) saw a large growth in short interest in April. As of April 30th, there was short interest totalling 1,070,000 shares, a growth of 45.7% from the April 15th total of 734,300 shares. Based on an average trading volume of 104,100 shares, the short-interest ratio is presently 10.3 days. Currently, 3.6% of the company’s stock are sold short.

Shares of NASDAQ:CECE opened at $5.47 on Friday. CECO Environmental has a 12-month low of $4.09 and a 12-month high of $9.16. The stock has a market cap of $192.27 million, a PE ratio of 68.38, a P/E/G ratio of 0.81 and a beta of 1.22. The business has a 50 day moving average of $5.16 and a 200-day moving average of $5.84. The company has a quick ratio of 1.47, a current ratio of 1.60 and a debt-to-equity ratio of 0.38.

CECO Environmental (NASDAQ:CECE – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.09. CECO Environmental had a return on equity of 5.77% and a net margin of 0.88%. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Equities research analysts expect that CECO Environmental will post 0.54 earnings per share for the current year.

CECE has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of CECO Environmental in a report on Tuesday, March 15th. StockNews.com initiated coverage on CECO Environmental in a report on Thursday, March 31st. They set a “buy” rating for the company. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of CECO Environmental in a report on Tuesday, March 15th. Lake Street Capital initiated coverage on CECO Environmental in a report on Friday, April 29th. They set a “buy” rating and a $14.00 price target for the company. Finally, TheStreet cut CECO Environmental from a “c” rating to a “d+” rating in a report on Monday, March 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $12.67.

In related news, Director Richard F. Wallman acquired 13,087 shares of the firm’s stock in a transaction dated Monday, March 21st. The stock was bought at an average price of $5.87 per share, for a total transaction of $76,820.69. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 17,893 shares of company stock valued at $103,170 in the last 90 days. 13.50% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of CECO Environmental by 107.3% during the fourth quarter. Citigroup Inc. now owns 8,634 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 4,469 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of CECO Environmental by 106.8% in the third quarter. BNP Paribas Arbitrage SA now owns 8,324 shares of the industrial products company’s stock valued at $59,000 after buying an additional 4,298 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $68,000. The Manufacturers Life Insurance Company acquired a new stake in shares of CECO Environmental in the third quarter valued at approximately $91,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of CECO Environmental by 34.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 4,460 shares in the last quarter. Institutional investors own 65.37% of the company’s stock.

About CECO Environmental (Get Rating)

CECO Environmental Corp. provides industrial air quality and fluid handling systems worldwide. It operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. The company engineers, designs, builds, and installs systems that capture, clean, and destroy air- and water-borne emissions from industrial facilities as well as fluid handling, gas separation, and filtration systems.

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