Ecovyst (NYSE:ECVT) Shares Gap Down – What’s Next?

Ecovyst Inc. (NYSE:ECVTGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $7.85, but opened at $7.60. Ecovyst shares last traded at $7.83, with a volume of 114,241 shares changing hands.

Analyst Ratings Changes

ECVT has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research note on Wednesday, December 4th. Finally, BMO Capital Markets increased their price target on shares of Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd.

Check Out Our Latest Stock Report on ECVT

Ecovyst Price Performance

The firm has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.47. The stock has a market capitalization of $903.77 million, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Ecovyst by 27.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,852,925 shares of the company’s stock valued at $88,043,000 after purchasing an additional 2,753,470 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ecovyst by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,210,855 shares of the company’s stock valued at $55,711,000 after buying an additional 234,824 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Ecovyst by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,152,089 shares of the company’s stock valued at $35,292,000 after buying an additional 49,413 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ecovyst by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,535,792 shares of the company’s stock valued at $17,374,000 after acquiring an additional 55,884 shares during the last quarter. Finally, State Street Corp boosted its holdings in Ecovyst by 1.4% during the 3rd quarter. State Street Corp now owns 2,426,509 shares of the company’s stock valued at $16,622,000 after acquiring an additional 33,292 shares during the period. 86.69% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Company Profile

(Get Free Report)

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.

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