Ecovyst (NYSE:ECVT) Sees Strong Trading Volume – Time to Buy?

Shares of Ecovyst Inc. (NYSE:ECVT) saw unusually-high trading volume on Monday . Approximately 1,643,294 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 877,153 shares.The stock last traded at $8.44 and had previously closed at $7.95.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 1st. BWS Financial reaffirmed a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Friday, November 1st. Finally, KeyCorp dropped their price objective on Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th.

Ecovyst Stock Up 6.8 %

The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $989.17 million, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.78 and a beta of 1.01. The firm has a fifty day moving average price of $7.18 and a 200 day moving average price of $7.87.

Institutional Investors Weigh In On Ecovyst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECVT. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Ecovyst by 27.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,852,925 shares of the company’s stock valued at $88,043,000 after purchasing an additional 2,753,470 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Ecovyst by 84.6% during the third quarter. Harbor Capital Advisors Inc. now owns 1,756,363 shares of the company’s stock worth $12,031,000 after acquiring an additional 805,128 shares in the last quarter. Western Standard LLC acquired a new stake in shares of Ecovyst during the third quarter worth $4,782,000. Foundry Partners LLC bought a new stake in Ecovyst in the 2nd quarter valued at $4,401,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Ecovyst by 26.7% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,192,113 shares of the company’s stock worth $15,016,000 after purchasing an additional 462,317 shares during the period. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Ecovyst

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.