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

Ecovyst Inc. (NYSE:ECVT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.10, but opened at $7.46. Ecovyst shares last traded at $7.14, with a volume of 325,137 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on ECVT shares. BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Friday. Citigroup increased their price target on Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, BMO Capital Markets upped their price objective on Ecovyst from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd.

Ecovyst Stock Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06. The firm has a market cap of $791.69 million, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. The company has a fifty day moving average price of $7.80 and a two-hundred day moving average price of $7.37.

Institutional Trading of Ecovyst

Several institutional investors have recently modified their holdings of ECVT. Spire Wealth Management lifted its holdings in shares of Ecovyst by 72.9% during the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock valued at $34,000 after purchasing an additional 1,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ecovyst by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company’s stock valued at $506,000 after purchasing an additional 2,325 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Ecovyst by 18.4% during the fourth quarter. EP Wealth Advisors LLC now owns 30,567 shares of the company’s stock valued at $234,000 after purchasing an additional 4,743 shares during the last quarter. Needham Investment Management LLC lifted its holdings in shares of Ecovyst by 0.5% during the fourth quarter. Needham Investment Management LLC now owns 920,000 shares of the company’s stock valued at $7,029,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Ecovyst by 23.4% during the fourth quarter. Marshall Wace LLP now owns 29,000 shares of the company’s stock valued at $222,000 after purchasing an additional 5,500 shares during the last quarter. 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.