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

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, a decrease of 5.8% from the March 15th total of 1,210,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 244,100 shares, the days-to-cover ratio is currently 4.7 days.

CECO Environmental Trading Down 1.4 %

Shares of CECO stock opened at $23.11 on Thursday. The company has a market cap of $805.85 million, a PE ratio of 62.46, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $22.00 and its two-hundred day simple moving average is $19.81. CECO Environmental has a 1 year low of $10.68 and a 1 year high of $24.43.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $153.71 million for the quarter, compared to analyst estimates of $149.10 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. During the same quarter in the prior year, the firm posted $0.21 EPS. Research analysts predict that CECO Environmental will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other CECO Environmental news, Director Laurie Siegel bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the transaction, the director now owns 7,906 shares of the company’s stock, valued at approximately $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.80% of the company’s stock.

Institutional Trading of CECO Environmental

Several institutional investors have recently added to or reduced their stakes in CECO. BlackRock Inc. purchased a new position in CECO Environmental during the 2nd quarter valued at $34,971,000. Vanguard Group Inc. grew its holdings in shares of CECO Environmental by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 1,501,583 shares of the company’s stock worth $30,452,000 after purchasing an additional 61,004 shares during the last quarter. RK Capital Management LLC increased its stake in CECO Environmental by 36.6% in the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock worth $14,123,000 after buying an additional 237,093 shares during the period. Wellington Management Group LLP lifted its holdings in CECO Environmental by 271.2% during the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after buying an additional 459,646 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in CECO Environmental in the 2nd quarter valued at about $8,284,000. Institutional investors own 68.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Needham & Company LLC lifted their price target on shares of CECO Environmental from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Northland Securities raised their price target on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Roth Mkm upped their price objective on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, HC Wainwright increased their target price on CECO Environmental from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.50.

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.