CECO Environmental Corp. (NASDAQ:CECE) Short Interest Up 5.4% in May

CECO Environmental Corp. (NASDAQ:CECE) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,009,800 shares, a growth of 5.4% from the April 15th total of 958,400 shares. Based on an average daily trading volume, of 96,200 shares, the days-to-cover ratio is presently 10.5 days. Approximately 3.3% of the shares of the company are sold short.

NASDAQ CECE traded up $0.03 during midday trading on Friday, hitting $9.33. The company had a trading volume of 110,014 shares, compared to its average volume of 159,074. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.59. The firm has a market cap of $327.02 million, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.17 and a beta of 0.92. The stock has a fifty day moving average of $9.19. CECO Environmental has a fifty-two week low of $6.44 and a fifty-two week high of $9.84.

CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $86.01 million for the quarter, compared to analyst estimates of $86.42 million. CECO Environmental had a negative net margin of 3.16% and a positive return on equity of 6.82%. As a group, research analysts anticipate that CECO Environmental will post 0.53 EPS for the current year.

A number of research firms recently issued reports on CECE. Maxim Group set a $7.00 target price on shares of Eagle Bulk Shipping and gave the company a “buy” rating in a research note on Wednesday, May 8th. Roth Capital reiterated a “buy” rating on shares of Gold Resource in a research note on Tuesday, June 11th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.92.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in CECO Environmental by 508.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,337 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 5,295 shares during the last quarter. Macquarie Group Ltd. grew its position in CECO Environmental by 117.6% in the 4th quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 3,948 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of CECO Environmental during the 4th quarter valued at about $73,000. SG Americas Securities LLC acquired a new stake in shares of CECO Environmental during the 1st quarter valued at about $73,000. Finally, Prudential Financial Inc. acquired a new stake in shares of CECO Environmental during the 4th quarter valued at about $75,000. Institutional investors own 67.84% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.

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