Freedom Capital Downgrades Global Water Resources (NASDAQ:GWRS) to Hold
by Tristan Rich · The Markets DailyGlobal Water Resources (NASDAQ:GWRS – Get Free Report) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.
Other equities analysts have also recently issued research reports about the stock. Roth Mkm set a $15.00 price objective on shares of Global Water Resources in a research note on Monday, November 17th. Weiss Ratings lowered shares of Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Global Water Resources presently has a consensus rating of “Reduce” and a consensus price target of $15.00.
Read Our Latest Analysis on Global Water Resources
Global Water Resources Stock Performance
Shares of Global Water Resources stock traded up $0.32 on Thursday, reaching $8.15. The stock had a trading volume of 178,421 shares, compared to its average volume of 58,648. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.18 and a current ratio of 0.76. The business’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $9.29. The stock has a market cap of $234.39 million, a P/E ratio of 81.51 and a beta of 0.96. Global Water Resources has a fifty-two week low of $7.67 and a fifty-two week high of $11.84.
Global Water Resources (NASDAQ:GWRS – Get Free Report) last announced its earnings results on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The firm had revenue of $13.54 million during the quarter, compared to the consensus estimate of $13.73 million. On average, sell-side analysts forecast that Global Water Resources will post 0.28 EPS for the current year.
Institutional Investors Weigh In On Global Water Resources
A number of hedge funds have recently made changes to their positions in GWRS. Handelsbanken Fonder AB boosted its position in Global Water Resources by 1.5% in the third quarter. Handelsbanken Fonder AB now owns 1,700,000 shares of the utilities provider’s stock valued at $17,510,000 after buying an additional 25,000 shares in the last quarter. TSP Capital Management Group LLC boosted its holdings in shares of Global Water Resources by 134.9% in the 4th quarter. TSP Capital Management Group LLC now owns 757,706 shares of the utilities provider’s stock worth $6,403,000 after acquiring an additional 435,129 shares in the last quarter. Heartland Advisors Inc. grew its position in Global Water Resources by 52.6% during the 4th quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock worth $5,801,000 after acquiring an additional 236,500 shares during the last quarter. Redmond Asset Management LLC increased its holdings 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in Global Water Resources by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 312,753 shares of the utilities provider’s stock valued at $2,643,000 after purchasing an additional 10,076 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.
About Global Water Resources
Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.
The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.