Short Interest in CECO Environmental Corp. (NASDAQ:CECO) Decreases By 12.9%

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,830,000 shares, a decline of 12.9% from the January 15th total of 2,100,000 shares. Based on an average daily volume of 301,400 shares, the days-to-cover ratio is presently 6.1 days. Approximately 6.2% of the shares of the stock are sold short.

CECO Environmental Trading Down 4.6 %

Shares of NASDAQ:CECO traded down $1.16 during trading hours on Friday, hitting $24.27. 286,725 shares of the company’s stock traded hands, compared to its average volume of 322,316. CECO Environmental has a 1 year low of $18.50 and a 1 year high of $35.16. The business has a fifty day moving average price of $29.90 and a 200-day moving average price of $28.46. The firm has a market capitalization of $848.96 million, a P/E ratio of 73.55, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CECO. Craig Hallum lifted their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC dropped their price target on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Northland Securities lifted their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Capital International Investors boosted its position in shares of CECO Environmental by 12.1% during the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock valued at $59,593,000 after buying an additional 212,476 shares during the period. Hood River Capital Management LLC boosted its position in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock valued at $52,623,000 after buying an additional 673,050 shares during the period. Vanguard Group Inc. raised its stake in shares of CECO Environmental by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock valued at $49,839,000 after acquiring an additional 9,023 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of CECO Environmental by 2.3% during the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock valued at $31,251,000 after acquiring an additional 23,239 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of CECO Environmental by 27.2% during the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock valued at $27,667,000 after acquiring an additional 195,425 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.