Global Water Resources, Inc. (GWRS) Lifted to Buy at Zacks Investment Research

Global Water Resources, Inc. (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $11.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.02% from the company’s current price.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Separately, Roth Capital set a $11.00 price target on Global Water Resources and gave the company a “buy” rating in a research report on Wednesday, August 9th.

Shares of Global Water Resources (NASDAQ:GWRS) traded up $0.06 during mid-day trading on Tuesday, reaching $9.82. The company had a trading volume of 11,700 shares, compared to its average volume of 19,720. The firm has a market cap of $191.60, a PE ratio of 122.00, a PEG ratio of 9.30 and a beta of 0.18. Global Water Resources has a 1 year low of $7.66 and a 1 year high of $10.00. The company has a debt-to-equity ratio of 8.62, a current ratio of 1.41 and a quick ratio of 1.41.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new stake in Global Water Resources in the 2nd quarter valued at approximately $101,000. New York State Common Retirement Fund boosted its holdings in Global Water Resources by 857.5% in the 2nd quarter. New York State Common Retirement Fund now owns 11,500 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 10,299 shares in the last quarter. Bank of America Corp DE boosted its holdings in Global Water Resources by 7.5% in the 1st quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 1,172 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Global Water Resources in the 1st quarter valued at approximately $171,000. Finally, ELCO Management Co. LLC boosted its holdings in Global Water Resources by 13.0% in the 2nd quarter. ELCO Management Co. LLC now owns 17,659 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 2,034 shares in the last quarter. 17.85% of the stock is currently owned by institutional investors.

About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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