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

CECO Environmental Corp. (NASDAQ:CECO) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,830,000 shares, a decrease of 12.9% from the January 15th total of 2,100,000 shares. Based on an average daily trading volume, of 301,400 shares, the days-to-cover ratio is presently 6.1 days. Currently, 6.2% of the company’s shares are sold short.

Institutional Trading of CECO Environmental

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in CECO Environmental by 185.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after buying an additional 152,893 shares during the period. HighTower Advisors LLC increased its stake in shares of CECO Environmental by 25.4% during the third quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock worth $501,000 after purchasing an additional 3,581 shares during the period. Barclays PLC increased its stake in shares of CECO Environmental by 115.0% during the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after purchasing an additional 34,027 shares during the period. Geode Capital Management LLC increased its stake in shares of CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after purchasing an additional 11,857 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CECO Environmental by 65.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock worth $13,663,000 after purchasing an additional 191,286 shares during the period. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Trading Up 2.1 %

NASDAQ:CECO traded up $0.51 on Tuesday, reaching $24.78. The company’s stock had a trading volume of 278,244 shares, compared to its average volume of 293,701. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $866.78 million, a PE ratio of 75.09, a PEG ratio of 1.64 and a beta of 1.41. The business’s 50-day moving average price is $29.55 and its two-hundred day moving average price is $28.41.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CECO. Northland Securities upped their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Needham & Company LLC reduced their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and an average target price of $36.20.

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.