Needham Investment Management LLC Buys 185,000 Shares of Ecovyst Inc. (NYSE:ECVT)

Needham Investment Management LLC grew its stake in shares of Ecovyst Inc. (NYSE:ECVT) by 25.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 915,000 shares of the company’s stock after acquiring an additional 185,000 shares during the period. Needham Investment Management LLC owned about 0.79% of Ecovyst worth $6,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ECVT. Price T Rowe Associates Inc. MD raised its stake in Ecovyst by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 52,598 shares of the company’s stock worth $587,000 after buying an additional 3,353 shares in the last quarter. CWM LLC boosted its stake in shares of Ecovyst by 6,920.7% during the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $37,000 after acquiring an additional 4,014 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ecovyst during the 2nd quarter worth about $95,000. Easterly Investment Partners LLC purchased a new stake in shares of Ecovyst during the 2nd quarter worth about $892,000. Finally, Bank of New York Mellon Corp raised its position in shares of Ecovyst by 27.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 459,343 shares of the company’s stock worth $4,120,000 after purchasing an additional 98,719 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ecovyst Stock Down 3.1 %

ECVT stock traded down $0.27 during midday trading on Tuesday, hitting $8.35. The company’s stock had a trading volume of 208,712 shares, compared to its average volume of 879,197. Ecovyst Inc. has a 52-week low of $6.02 and a 52-week high of $11.35. The firm has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.87. The firm has a market capitalization of $972.86 million, a P/E ratio of 18.15, a PEG ratio of 1.78 and a beta of 1.06. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17.

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.