CECO Environmental Corp. (NASDAQ:CECO) Short Interest Up 8.6% in September

CECO Environmental Corp. (NASDAQ:CECO) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,650,000 shares, a growth of 8.6% from the August 31st total of 1,520,000 shares. Based on an average trading volume of 289,500 shares, the short-interest ratio is currently 5.7 days. Approximately 5.6% of the shares of the stock are short sold.

CECO Environmental Price Performance

NASDAQ:CECO traded up $0.42 on Friday, reaching $29.01. 177,318 shares of the company’s stock traded hands, compared to its average volume of 267,170. CECO Environmental has a 12 month low of $15.27 and a 12 month high of $31.55. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.01 billion, a PE ratio of 82.89, a P/E/G ratio of 1.99 and a beta of 1.33. The stock has a 50-day simple moving average of $27.97 and a 200-day simple moving average of $25.86.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The business had revenue of $137.50 million during the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. CECO Environmental’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. Equities research analysts forecast that CECO Environmental will post 0.93 earnings per share for the current year.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the purchase, the director now owns 62,000 shares of the company’s stock, valued at $1,783,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On CECO Environmental

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after acquiring an additional 708 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of CECO Environmental during the first quarter valued at approximately $72,000. SG Americas Securities LLC bought a new stake in shares of CECO Environmental during the 2nd quarter worth approximately $201,000. Kessler Investment Group LLC boosted its holdings in CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after acquiring an additional 1,560 shares during the period. Finally, Arizona State Retirement System bought a new stake in shares of CECO Environmental during the second quarter worth $239,000. 68.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CECO has been the topic of several research analyst reports. Roth Mkm boosted their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Northland Securities boosted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. HC Wainwright raised their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Craig Hallum upped their price objective on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $34.80.

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.