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

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,070,000 shares, a decrease of 6.1% from the March 31st total of 1,140,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily volume of 251,100 shares, the days-to-cover ratio is presently 4.3 days.

Insider Activity

In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Institutional investors and hedge funds have recently modified their holdings of the stock. AJOVista LLC purchased a new position in CECO Environmental during the fourth quarter valued at $57,000. Tower Research Capital LLC TRC grew its position in shares of CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares in the last quarter. Kessler Investment Group LLC bought a new stake in shares of CECO Environmental in the fourth quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CECO Environmental in the fourth quarter worth about $159,000. Finally, Guyasuta Investment Advisors Inc. bought a new position in CECO Environmental during the fourth quarter valued at approximately $203,000. Institutional investors own 68.08% of the company’s stock.

CECO Environmental Trading Up 1.8 %

Shares of CECO stock opened at $22.00 on Thursday. The stock has a fifty day simple moving average of $22.62 and a two-hundred day simple moving average of $20.33. CECO Environmental has a 52-week low of $10.68 and a 52-week high of $25.82. The firm has a market capitalization of $767.14 million, a PE ratio of 59.46, a PEG ratio of 1.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. The firm had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. On average, analysts predict that CECO Environmental will post 0.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CECO. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of CECO Environmental in a research note on Wednesday. Craig Hallum lifted their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities upped their price target on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Roth Mkm lifted their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC increased their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $27.40.

About CECO Environmental

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.