Ecovyst (NYSE:ECVT) Hits New 12-Month Low – Here’s Why

Ecovyst Inc. (NYSE:ECVT)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.92 and last traded at $6.03, with a volume of 228537 shares trading hands. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ECVT shares. BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a report on Friday, February 28th. BMO Capital Markets cut their target price on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Citigroup raised their price target on Ecovyst from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th.

Ecovyst Trading Down 8.3 %

The stock has a market capitalization of $695.40 million, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.04. The stock’s fifty day moving average price is $7.31 and its two-hundred day moving average price is $7.34. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17.

Institutional Trading of Ecovyst

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Ecovyst by 200.7% in the first quarter. Versant Capital Management Inc now owns 5,227 shares of the company’s stock worth $32,000 after buying an additional 3,489 shares during the period. Spire Wealth Management increased its stake in Ecovyst by 72.9% in the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock worth $34,000 after purchasing an additional 1,896 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in Ecovyst in the fourth quarter valued at approximately $79,000. Bridgefront Capital LLC purchased a new stake in shares of Ecovyst during the fourth quarter valued at approximately $81,000. Finally, Cibc World Markets Corp bought a new position in shares of Ecovyst in the fourth quarter worth approximately $83,000. 86.69% of the stock is owned by institutional investors.

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.