CECO Environmental Corp. (NASDAQ:CECO) Sees Large Decline in Short Interest

CECO Environmental Corp. (NASDAQ:CECO - Get Free Report) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,830,000 shares, a drop of 12.9% from the January 15th total of 2,100,000 shares. Based on an average trading volume of 301,400 shares, the days-to-cover ratio is currently 6.1 days. Approximately 6.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have commented on CECO. HC Wainwright downgraded CECO Environmental from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Craig Hallum raised their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Finally, Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.20.

Institutional Investors Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of CECO. First Horizon Advisors Inc. increased its holdings in CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in CECO Environmental during the 4th quarter valued at $56,000. Quest Partners LLC acquired a new stake in CECO Environmental during the 3rd quarter valued at $69,000. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter valued at $74,000. Finally, Morse Asset Management Inc acquired a new stake in CECO Environmental during the 3rd quarter valued at $76,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Price Performance

Shares of CECO traded down $0.76 during mid-day trading on Thursday, reaching $24.16. The company had a trading volume of 167,612 shares, compared to its average volume of 286,603. CECO Environmental has a twelve month low of $18.50 and a twelve month high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company's 50-day moving average is $29.19 and its 200-day moving average is $28.36. The company has a market capitalization of $845.12 million, a P/E ratio of 73.21, a P/E/G ratio of 1.43 and a beta of 1.41.

CECO Environmental Company Profile

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.