Ecovyst (NYSE:ECVT) Sees Large Volume Increase – Should You Buy?

Ecovyst Inc. (NYSE:ECVT) saw an uptick in trading volume on Friday . 1,032,186 shares traded hands during trading, an increase of 20% from the previous session’s volume of 863,305 shares.The stock last traded at $7.10 and had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ECVT. BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Ecovyst in a research report on Friday. KeyCorp reduced their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Citigroup cut their target price on Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, BMO Capital Markets cut their target price on Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday.

Ecovyst Stock Up 14.4 %

The business’s fifty day moving average price is $6.65 and its 200 day moving average price is $8.12. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $887.50 million, a PE ratio of 16.57, a PEG ratio of 1.19 and a beta of 1.01.

Ecovyst (NYSE:ECVT) last announced its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $189.79 million. Ecovyst had a net margin of 7.74% and a return on equity of 7.11%. Ecovyst’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. On average, equities research analysts forecast that Ecovyst Inc. will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Ecovyst

In other Ecovyst news, insider Joseph S. Koscinski purchased 4,807 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the transaction, the insider now directly owns 544,609 shares of the company’s stock, valued at $3,409,252.34. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Joseph S. Koscinski bought 4,807 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the transaction, the insider now owns 544,609 shares in the company, valued at $3,409,252.34. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Whittleston purchased 7,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $6.50 per share, for a total transaction of $50,700.00. Following the purchase, the insider now owns 57,542 shares of the company’s stock, valued at $374,023. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ecovyst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECVT. ProShare Advisors LLC grew its holdings in Ecovyst by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,635 shares of the company’s stock worth $185,000 after acquiring an additional 1,308 shares in the last quarter. Quarry LP boosted its holdings in shares of Ecovyst by 61.2% in the 2nd quarter. Quarry LP now owns 4,533 shares of the company’s stock valued at $41,000 after buying an additional 1,721 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ecovyst by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,598 shares of the company’s stock valued at $587,000 after buying an additional 3,353 shares during the period. Innealta Capital LLC acquired a new position in shares of Ecovyst in the 2nd quarter valued at about $35,000. Finally, CWM LLC boosted its holdings in shares of Ecovyst by 6,920.7% in the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after buying an additional 4,014 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Ecovyst Company Profile

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.