Ecovyst (NYSE:ECVT) Sees Strong Trading Volume - Should You Buy?

Ecovyst Inc. (NYSE:ECVT - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 1,032,186 shares were traded during mid-day trading, an increase of 20% from the previous session's volume of 863,305 shares.The stock last traded at $7.10 and had previously closed at $6.66.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BWS Financial reiterated a "buy" rating and issued a $12.00 price target on shares of Ecovyst in a research note on Friday. Citigroup reduced their target price on shares of Ecovyst from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, July 12th. BMO Capital Markets cut their target price on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, KeyCorp cut their target price on Ecovyst from $13.00 to $10.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th.

Ecovyst Stock Up 14.6 %

The firm has a market cap of $888.67 million, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The business has a 50-day moving average price of $6.63 and a two-hundred day moving average price of $8.15. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19.

Ecovyst (NYSE:ECVT - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The company had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same period in the previous year, the business posted $0.26 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Ecovyst Inc. will post 0.46 EPS for the current year.

Insider Buying and Selling at Ecovyst

In other news, insider Joseph S. Koscinski purchased 4,807 shares of the company's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the purchase, the insider now directly owns 544,609 shares of the company's stock, valued at $3,409,252.34. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Paul Whittleston acquired 7,800 shares of Ecovyst stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the transaction, the insider now directly owns 57,542 shares of the company's stock, valued at $374,023. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph S. Koscinski purchased 4,807 shares of the business's stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the acquisition, the insider now owns 544,609 shares of the company's stock, valued at approximately $3,409,252.34. 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.

Hedge Funds Weigh In On Ecovyst

Several large investors have recently made changes to their positions in the business. Easterly Investment Partners LLC boosted its position in Ecovyst by 56.1% during the third quarter. Easterly Investment Partners LLC now owns 155,296 shares of the company's stock valued at $1,064,000 after purchasing an additional 55,836 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Ecovyst by 84.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,756,363 shares of the company's stock valued at $12,031,000 after purchasing an additional 805,128 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Ecovyst by 1.0% in the 3rd 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. Creative Planning acquired a new stake in Ecovyst during the 3rd quarter worth $310,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Ecovyst by 12.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 548,857 shares of the company's stock valued at $3,760,000 after buying an additional 59,331 shares during the period. 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.