CECO Environmental Corp. (NASDAQ:CECO) Short Interest Update

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,210,000 shares, a growth of 10.0% from the December 15th total of 2,010,000 shares. Based on an average daily volume of 289,100 shares, the days-to-cover ratio is currently 7.6 days. Currently, 7.4% of the company’s stock are short sold.

CECO Environmental Stock Performance

Shares of CECO Environmental stock traded down $2.55 during trading on Monday, reaching $29.60. The company’s stock had a trading volume of 1,752,692 shares, compared to its average volume of 196,027. The firm has a market cap of $1.04 billion, a PE ratio of 89.70, a P/E/G ratio of 1.68 and a beta of 1.43. The company has a 50-day moving average price of $30.71 and a two-hundred day moving average price of $28.62. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, analysts forecast that CECO Environmental will post 0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CECO shares. Northland Securities raised their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Craig Hallum boosted their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reduced their price objective on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, HC Wainwright cut CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Hedge Funds Weigh In On CECO Environmental

A number of large investors have recently bought and sold shares of CECO. First Horizon Advisors Inc. boosted its stake in shares of CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares in the last quarter. Quest Partners LLC acquired a new stake in CECO Environmental in the third quarter valued at $69,000. Morse Asset Management Inc purchased a new stake in shares of CECO Environmental during the 3rd quarter worth $76,000. Eastern Bank acquired a new position in shares of CECO Environmental during the 3rd quarter worth $113,000. Finally, SG Americas Securities LLC increased its holdings in shares of CECO Environmental by 46.0% in the 3rd quarter. SG Americas Securities LLC now owns 10,175 shares of the company’s stock valued at $287,000 after purchasing an additional 3,206 shares in the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

CECO Environmental Company Profile

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.