CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 10.0% in December

CECO Environmental Corp. (NASDAQ:CECO) saw a large growth in short interest in the month of 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. Approximately 7.4% of the shares of the company are sold short. Based on an average daily volume of 289,100 shares, the short-interest ratio is presently 7.6 days.

CECO Environmental Stock Performance

Shares of NASDAQ CECO traded down $2.55 during midday trading on Friday, hitting $29.60. The company’s stock had a trading volume of 1,752,692 shares, compared to its average volume of 196,027. CECO Environmental has a one year low of $18.50 and a one year high of $35.16. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 89.70, a P/E/G ratio of 1.68 and a beta of 1.43. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $30.71 and a 200 day moving average price of $28.62.

CECO Environmental (NASDAQ:CECO) last posted its quarterly 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 company had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental’s revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, research analysts forecast that CECO Environmental will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of CECO Environmental

Institutional investors and hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC bought a new stake in CECO Environmental during the second quarter valued at $15,495,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CECO Environmental by 185.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after purchasing an additional 152,893 shares in the last quarter. HighTower Advisors LLC increased its position in shares of CECO Environmental by 25.4% in the third quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock worth $501,000 after purchasing an additional 3,581 shares during the last quarter. Barclays PLC raised its stake in CECO Environmental by 115.0% in the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock valued at $1,795,000 after purchasing an additional 34,027 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in CECO Environmental by 1.7% during the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after purchasing an additional 11,857 shares during the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.