CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,510,000 shares, a decrease of 9.6% from the September 30th total of 1,670,000 shares. Approximately 5.1% of the shares of the stock are short sold. Based on an average trading volume of 204,300 shares, the short-interest ratio is presently 7.4 days.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the purchase, the director now directly owns 62,000 shares of the company's stock, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.90% of the company's stock.

Institutional Trading of CECO Environmental

Hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in CECO Environmental during the 2nd quarter valued at $15,495,000. Robeco Schweiz AG grew its holdings in shares of CECO Environmental by 375.2% during the second quarter. Robeco Schweiz AG now owns 565,255 shares of the company's stock worth $16,308,000 after purchasing an additional 446,305 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of CECO Environmental in the second quarter worth approximately $11,857,000. Van ECK Associates Corp lifted its position in CECO Environmental by 466.4% during the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company's stock valued at $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in CECO Environmental by 651,526.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company's stock worth $8,460,000 after buying an additional 293,187 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CECO shares. HC Wainwright reiterated a "buy" rating and set a $35.00 price objective on shares of CECO Environmental in a research report on Wednesday. Northland Securities upped their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Roth Mkm lifted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC cut their price objective on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $34.40.

CECO Environmental Stock Up 9.0 %

Shares of NASDAQ CECO traded up $2.03 during midday trading on Wednesday, hitting $24.59. 709,215 shares of the stock traded hands, compared to its average volume of 262,680. CECO Environmental has a one year low of $15.65 and a one year high of $31.55. The business has a 50 day moving average price of $27.26 and a two-hundred day moving average price of $26.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. The company has a market cap of $859.08 million, a PE ratio of 70.26, a P/E/G ratio of 2.01 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $135.50 million for the quarter, compared to analysts' expectations of $155.94 million. During the same period in the previous year, the firm earned $0.22 EPS. The firm's quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts predict that CECO Environmental will post 0.93 EPS for the current year.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.