Short Interest in CECO Environmental Corp. (NASDAQ:CECO) Drops By 8.0%

CECO Environmental Corp. (NASDAQ:CECO) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 1,040,000 shares, a decrease of 8.0% from the May 31st total of 1,130,000 shares. Based on an average daily volume of 278,900 shares, the short-interest ratio is presently 3.7 days. Approximately 3.5% of the company’s shares are short sold.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman acquired 4,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the purchase, the director now owns 205,319 shares in the company, valued at approximately $5,030,315.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CECO Environmental news, Director Richard F. Wallman purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard F. Wallman acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The disclosure for this purchase can be found here. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Large investors have recently modified their holdings of the company. AJOVista LLC purchased a new position in CECO Environmental during the 4th quarter worth $57,000. EntryPoint Capital LLC acquired a new position in CECO Environmental in the 1st quarter valued at about $72,000. Tower Research Capital LLC TRC raised its stake in CECO Environmental by 89.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after acquiring an additional 2,195 shares during the last quarter. Kessler Investment Group LLC acquired a new stake in CECO Environmental during the 4th quarter worth approximately $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CECO Environmental in the 4th quarter valued at approximately $159,000. 68.08% of the stock is owned by institutional investors and hedge funds.

CECO Environmental Stock Performance

CECO traded down $0.81 on Monday, reaching $28.04. The company had a trading volume of 609,783 shares, compared to its average volume of 280,859. The stock has a 50-day moving average price of $24.64 and a 200-day moving average price of $22.34. The stock has a market capitalization of $979.72 million, a PE ratio of 80.11, a P/E/G ratio of 2.05 and a beta of 1.37. CECO Environmental has a 1 year low of $11.46 and a 1 year high of $29.11. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $126.30 million during the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. As a group, research analysts forecast that CECO Environmental will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Northland Securities upped their price target on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Roth Mkm upped their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC lifted their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a research report on Wednesday, May 1st. Finally, Craig Hallum raised their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $27.40.

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.