EVR Research LP Cuts Stock Position in Ecovyst Inc. $ECVT

EVR Research LP lessened its holdings in Ecovyst Inc. (NYSE:ECVT) by 29.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 600,000 shares of the company’s stock after selling 250,000 shares during the period. Ecovyst makes up about 2.1% of EVR Research LP’s investment portfolio, making the stock its 13th largest position. EVR Research LP owned about 0.52% of Ecovyst worth $4,938,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ECVT. CWM LLC grew its stake in shares of Ecovyst by 63.0% in the 2nd quarter. CWM LLC now owns 5,946 shares of the company’s stock worth $49,000 after buying an additional 2,298 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Ecovyst by 1,769.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company’s stock valued at $51,000 after acquiring an additional 5,823 shares during the last quarter. AlphaQuest LLC lifted 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 valued at $56,000 after acquiring an additional 3,396 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Ecovyst in the second quarter worth about $101,000. Finally, Simplex Trading LLC bought a new stake in Ecovyst during the first quarter worth approximately $116,000. Institutional investors own 86.69% of the company’s stock.

Analysts Set New Price Targets

ECVT has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ecovyst in a research note on Wednesday, October 8th. BMO Capital Markets increased their price target on Ecovyst from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Wall Street Zen upgraded Ecovyst from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp cut their price objective on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Finally, BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Ecovyst Stock Performance

Shares of Ecovyst stock opened at $9.15 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.25 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $8.52 and its two-hundred day moving average is $8.56. Ecovyst Inc. has a 52 week low of $5.24 and a 52 week high of $9.69. The company has a market capitalization of $1.04 billion, a PE ratio of -9.84, a price-to-earnings-growth ratio of 1.47 and a beta of 1.25.

Ecovyst (NYSE:ECVT) last released its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The business had revenue of $204.91 million for the quarter, compared to the consensus estimate of $204.74 million. Ecovyst had a positive return on equity of 8.93% and a negative net margin of 14.34%. As a group, analysts expect that Ecovyst Inc. will post 0.44 earnings per share for the current year.

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.