US Ecology, Inc. (ECOL) Sees Significant Increase in Short Interest
US Ecology, Inc. (NASDAQ:ECOL) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 1,059,033 shares, a growth of 47.9% from the July 31st total of 715,818 shares. Based on an average daily volume of 64,870 shares, the short-interest ratio is presently 16.3 days. Approximately 4.9% of the shares of the stock are sold short.
In other news, Director Katina Dorton bought 600 shares of the stock in a transaction on Friday, August 25th. The shares were bought at an average price of $47.16 per share, with a total value of $28,296.00. Following the completion of the acquisition, the director now owns 3,970 shares of the company’s stock, valued at $187,225.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric L. Gerratt sold 19,936 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $46.80, for a total value of $933,004.80. Following the completion of the sale, the chief financial officer now directly owns 31,447 shares in the company, valued at approximately $1,471,719.60. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ECOL. Piedmont Investment Advisors LLC acquired a new stake in shares of US Ecology during the second quarter valued at approximately $238,000. Susquehanna International Group LLP acquired a new stake in shares of US Ecology during the second quarter valued at approximately $229,000. The Manufacturers Life Insurance Company increased its stake in shares of US Ecology by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,052 shares of the business services provider’s stock valued at $861,000 after buying an additional 77 shares during the last quarter. State Street Corp increased its stake in shares of US Ecology by 5.7% in the second quarter. State Street Corp now owns 528,197 shares of the business services provider’s stock valued at $26,669,000 after buying an additional 28,715 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of US Ecology during the second quarter valued at approximately $2,807,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on ECOL. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 target price on shares of US Ecology in a report on Sunday, July 30th. BidaskClub raised US Ecology from a “hold” rating to a “buy” rating in a report on Friday, June 30th. BMO Capital Markets initiated coverage on US Ecology in a research note on Thursday, June 29th. They set a “market perform” rating and a $54.00 price objective on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $60.00 price objective on shares of US Ecology in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.60.
Shares of US Ecology (NASDAQ:ECOL) opened at 50.50 on Thursday. The company’s 50 day moving average price is $50.68 and its 200-day moving average price is $49.86. US Ecology has a 1-year low of $38.00 and a 1-year high of $55.00. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 39.48 and a beta of 0.67.
US Ecology (NASDAQ:ECOL) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $126.06 million for the quarter, compared to the consensus estimate of $128.38 million. US Ecology had a return on equity of 11.37% and a net margin of 5.86%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Equities analysts expect that US Ecology will post $1.78 EPS for the current fiscal year.
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US Ecology Company Profile
US Ecology, Inc is a provider of environmental services to commercial and government entities. The Company offers treatment, disposal and recycling of hazardous, non-hazardous and radioactive waste, as well as a range of field and industrial services. The Company operates in two business segments: Environmental Services, and Field & Industrial Services.
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