Goldman Sachs Group Inc. Cuts Stake in Ecovyst Inc. $ECVT

Goldman Sachs Group Inc. reduced its stake in Ecovyst Inc. (NYSE:ECVT) by 51.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 655,361 shares of the company’s stock after selling 697,837 shares during the quarter. Goldman Sachs Group Inc. owned 0.56% of Ecovyst worth $4,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ecovyst by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company’s stock worth $506,000 after buying an additional 2,325 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company’s stock worth $56,000 after buying an additional 3,396 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company’s stock worth $32,000 after buying an additional 3,489 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Ecovyst by 8.6% in the 1st quarter. Royal Bank of Canada now owns 45,069 shares of the company’s stock worth $279,000 after buying an additional 3,571 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Ecovyst by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 372,061 shares of the company’s stock valued at $2,307,000 after purchasing an additional 4,293 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Stock Performance

Shares of ECVT stock opened at $9.26 on Thursday. The stock has a fifty day moving average of $8.86 and a 200 day moving average of $7.64. Ecovyst Inc. has a 52 week low of $5.24 and a 52 week high of $9.69. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -77.13, a PEG ratio of 4.03 and a beta of 1.24. The company has a quick ratio of 1.69, a current ratio of 2.25 and a debt-to-equity ratio of 1.22.

Ecovyst (NYSE:ECVT) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Ecovyst had a positive return on equity of 7.69% and a negative net margin of 1.91%.The company had revenue of $200.10 million during the quarter, compared to analyst estimates of $204.27 million. During the same quarter last year, the firm posted $0.12 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Ecovyst has set its FY 2025 guidance at 0.520-0.680 EPS. As a group, research analysts expect that Ecovyst Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ECVT shares. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a report on Monday, August 11th. BMO Capital Markets upped their price objective on shares of Ecovyst from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, Wall Street Zen downgraded shares of Ecovyst from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $11.67.

Ecovyst 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.