Ecovyst (NYSE:ECVT) Shares Gap Down – Here’s Why

Ecovyst Inc. (NYSE:ECVT) gapped down prior to trading on Friday . The stock had previously closed at $7.85, but opened at $7.60. Ecovyst shares last traded at $7.83, with a volume of 114,241 shares changing hands.

Analyst Upgrades and Downgrades

ECVT has been the topic of several research analyst reports. Citigroup lifted their price target on Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. BWS Financial reaffirmed a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a report on Wednesday, December 4th. Finally, BMO Capital Markets increased their price target on shares of Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd.

Ecovyst Stock Performance

The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average price of $7.78 and a 200-day moving average price of $7.49. The firm has a market cap of $912.86 million, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05.

Institutional Investors Weigh In On Ecovyst

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in shares of Ecovyst by 13.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,000,444 shares of the company’s stock worth $15,283,000 after purchasing an additional 244,081 shares in the last quarter. 272 Capital LP lifted its stake in shares of Ecovyst by 753.8% in the third quarter. 272 Capital LP now owns 128,071 shares of the company’s stock valued at $877,000 after purchasing an additional 113,071 shares during the period. Barclays PLC grew its position in Ecovyst by 198.1% during the third quarter. Barclays PLC now owns 178,032 shares of the company’s stock worth $1,220,000 after buying an additional 118,303 shares during the period. Geode Capital Management LLC increased its holdings in Ecovyst by 2.3% in the third quarter. Geode Capital Management LLC now owns 2,535,792 shares of the company’s stock valued at $17,374,000 after buying an additional 55,884 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Ecovyst during the 3rd quarter valued at approximately $177,000. Hedge funds and other institutional investors 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.