Global Water Resources (NASDAQ:GWRS) Shares Pass Below Fifty Day Moving Average – Here’s Why

by · The Markets Daily

Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.73 and traded as low as $8.61. Global Water Resources shares last traded at $8.68, with a volume of 155,500 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Water Resources in a research note on Wednesday, October 8th. Wall Street Zen lowered Global Water Resources from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Roth Capital set a $15.00 target price on Global Water Resources in a research note on Monday, November 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Global Water Resources has a consensus rating of “Hold” and a consensus target price of $15.00.

Get Our Latest Stock Report on GWRS

Global Water Resources Price Performance

The company has a fifty day simple moving average of $9.73 and a 200-day simple moving average of $9.96. The company has a market cap of $249.55 million, a P/E ratio of 54.25 and a beta of 0.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.18 and a quick ratio of 1.18.

Global Water Resources (NASDAQ:GWRS – Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $15.52 million for the quarter, compared to the consensus estimate of $15.20 million. Global Water Resources had a return on equity of 6.84% and a net margin of 7.87%. On average, sell-side analysts predict that Global Water Resources, Inc. will post 0.28 earnings per share for the current year.

Global Water Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a $0.0253 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a yield of 3.5%. Global Water Resources’s dividend payout ratio (DPR) is currently 187.50%.

Insider Transactions at Global Water Resources

In other news, Director Andrew M. Cohn acquired 154,026 shares of Global Water Resources stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $10.30 per share, with a total value of $1,586,467.80. Following the completion of the purchase, the director owned 2,540,908 shares of the company’s stock, valued at $26,171,352.40. This represents a 6.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 54.30% of the company’s stock.

Institutional Investors Weigh In On Global Water Resources

A number of large investors have recently made changes to their positions in the company. CWM LLC boosted its stake in Global Water Resources by 6.7% in the 3rd quarter. CWM LLC now owns 14,918 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 932 shares during the period. Redmond Asset Management LLC raised its stake in Global Water Resources by 0.5% during the 3rd quarter. Redmond Asset Management LLC now owns 330,272 shares of the utilities provider’s stock valued at $3,402,000 after purchasing an additional 1,685 shares during the period. Rhumbline Advisers lifted its holdings in shares of Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 1,884 shares in the last quarter. Alliancebernstein L.P. raised its position in Global Water Resources by 16.5% during the third quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider’s stock valued at $138,000 after buying an additional 1,900 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after buying an additional 2,091 shares during the period. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Company Profile

(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.

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