Ecovyst (NYSE:ECVT) Sees Large Volume Increase – Still a Buy?

Shares of Ecovyst Inc. (NYSE:ECVT) saw unusually-high trading volume on Friday . Approximately 301,518 shares traded hands during trading, a decline of 64% from the previous session’s volume of 843,224 shares.The stock last traded at $6.55 and had previously closed at $6.57.

Analyst Upgrades and Downgrades

ECVT has been the topic of a number of research analyst reports. KeyCorp cut 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. BWS Financial cut their price target on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Citigroup cut their price objective on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 12th.

Ecovyst Stock Up 2.0 %

The company has a market cap of $780.35 million, a P/E ratio of 13.96, a PEG ratio of 1.17 and a beta of 1.01. The stock’s 50-day moving average price is $6.70 and its 200-day moving average price is $8.56. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19.

Ecovyst (NYSE:ECVT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The business had revenue of $182.80 million during the quarter, compared to the consensus estimate of $189.79 million. During the same period in the previous year, the business posted $0.26 EPS. Ecovyst’s revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that Ecovyst Inc. will post 0.46 EPS for the current year.

Insider Activity at Ecovyst

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

Institutional Investors Weigh In On Ecovyst

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new stake in shares of Ecovyst during the 1st quarter worth approximately $3,581,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ecovyst by 0.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,113,232 shares of the company’s stock worth $57,013,000 after purchasing an additional 15,190 shares during the last quarter. LSV Asset Management increased its stake in shares of Ecovyst by 2.4% during the 1st quarter. LSV Asset Management now owns 739,400 shares of the company’s stock worth $8,244,000 after purchasing an additional 17,100 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Ecovyst by 18.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,605 shares of the company’s stock worth $587,000 after purchasing an additional 8,032 shares during the last quarter. Finally, Steamboat Capital Partners LLC increased its stake in shares of Ecovyst by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 312,821 shares of the company’s stock worth $3,488,000 after purchasing an additional 5,209 shares during the last quarter. 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.