Global Water Resources, Inc. (NASDAQ:GWRS) Short Interest Up 10.5% in September

by · The Cerbat Gem

Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 103,800 shares, an increase of 10.5% from the August 31st total of 93,900 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 26,800 shares, the days-to-cover ratio is currently 3.9 days.

Global Water Resources Trading Down 1.0 %

GWRS traded down $0.12 during trading on Tuesday, reaching $12.47. 13,772 shares of the company’s stock were exchanged, compared to its average volume of 24,451. The company’s fifty day moving average price is $12.53 and its 200-day moving average price is $12.49. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $301.47 million, a PE ratio of 47.96, a P/E/G ratio of 3.18 and a beta of 0.97. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.42.

Global Water Resources (NASDAQ:GWRS – Get Free Report) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Global Water Resources had a net margin of 11.91% and a return on equity of 13.45%. The company had revenue of $13.51 million during the quarter, compared to analyst estimates of $13.60 million. During the same period in the previous year, the company posted $0.07 EPS. As a group, equities analysts forecast that Global Water Resources will post 0.27 EPS for the current year.

Global Water Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a dividend of $0.025 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 17th. Global Water Resources’s dividend payout ratio is currently 115.38%.

Hedge Funds Weigh In On Global Water Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Global Water Resources by 2.6% during the second quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock worth $2,909,000 after purchasing an additional 6,000 shares during the period. Panagora Asset Management Inc. raised its holdings in Global Water Resources by 9.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 8,033 shares during the period. Vanguard Group Inc. lifted its stake in Global Water Resources by 1.3% in the first quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock valued at $8,709,000 after buying an additional 8,960 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Global Water Resources by 15.8% during the first quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock worth $3,016,000 after acquiring an additional 32,100 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Global Water Resources during the second quarter worth $857,000. 27.91% of the stock is owned by institutional investors.

About Global Water Resources

(Get Free Report)

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

See Also