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

CECO Environmental Corp. (NASDAQ:CECO) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, a decline of 5.8% from the March 15th total of 1,210,000 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average trading volume of 244,100 shares, the days-to-cover ratio is presently 4.7 days.

CECO Environmental Stock Down 1.4 %

CECO Environmental stock opened at $23.11 on Thursday. The stock’s 50 day moving average price is $22.00 and its 200 day moving average price is $19.81. CECO Environmental has a 1-year low of $10.68 and a 1-year high of $24.43. The company has a market cap of $805.85 million, a PE ratio of 62.46, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22.

CECO Environmental (NASDAQ:CECO) last issued its earnings results on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The company had revenue of $153.71 million for the quarter, compared to analyst estimates of $149.10 million. During the same period in the prior year, the business posted $0.21 earnings per share. On average, sell-side analysts predict that CECO Environmental will post 0.96 EPS for the current fiscal year.

Insider Activity

In other news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the transaction, the director now owns 7,906 shares in the company, valued at $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in CECO Environmental during the second quarter worth about $34,971,000. Vanguard Group Inc. increased its stake in shares of CECO Environmental by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 1,501,583 shares of the company’s stock worth $30,452,000 after purchasing an additional 61,004 shares in the last quarter. RK Capital Management LLC raised its position in shares of CECO Environmental by 36.6% during the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock worth $14,123,000 after purchasing an additional 237,093 shares during the last quarter. Wellington Management Group LLP lifted its stake in CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after buying an additional 459,646 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new position in CECO Environmental during the second quarter worth $8,284,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CECO. Roth Mkm raised their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Northland Securities boosted their target price on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright boosted their price objective on shares of CECO Environmental from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $26.50.

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.