AquaVenture (NYSE:WAAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “AquaVenture Holdings LLC is a provider of Water-as-a-Service (TM) solutions. It offers clean drinking and process water. The Company’s operating platform consists of Quench, a U.S.-based provider of Point-of-Use, filtered water systems and related services to institutional and commercial customers and Seven Seas Water, a provider of desalination and wastewater treatment solutions to governmental, municipal, industrial and hospitality customers. AquaVenture Holdings LLC is based in TAMPA, United States. “
WAAS has been the subject of a number of other reports. ValuEngine upgraded AquaVenture from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Royal Bank of Canada restated a “buy” rating and issued a $18.00 target price on shares of AquaVenture in a research note on Friday, March 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.40.
AquaVenture stock traded up $0.01 during mid-day trading on Friday, hitting $13.53. 56,299 shares of the company were exchanged, compared to its average volume of 124,472. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.12 and a quick ratio of 5.79. AquaVenture has a 1-year low of $10.87 and a 1-year high of $18.83. The firm has a market capitalization of $348.92, a P/E ratio of -13.81 and a beta of 1.24.
AquaVenture (NYSE:WAAS) last announced its earnings results on Thursday, March 1st. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). AquaVenture had a negative net margin of 21.29% and a negative return on equity of 7.19%. The business had revenue of $32.36 million during the quarter, compared to analyst estimates of $31.58 million. During the same quarter last year, the business posted ($0.28) earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities research analysts predict that AquaVenture will post -0.79 EPS for the current fiscal year.
In related news, CEO Douglas R. Brown bought 50,000 shares of AquaVenture stock in a transaction on Wednesday, March 14th. The shares were purchased at an average price of $13.67 per share, for a total transaction of $683,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,534,042 shares in the company, valued at $20,970,354.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 55.90% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC bought a new position in shares of AquaVenture during the 4th quarter valued at about $461,000. First Trust Advisors LP lifted its holdings in shares of AquaVenture by 10.0% during the 4th quarter. First Trust Advisors LP now owns 220,997 shares of the company’s stock valued at $3,430,000 after purchasing an additional 20,068 shares in the last quarter. Ardsley Advisory Partners lifted its holdings in shares of AquaVenture by 250.4% during the 4th quarter. Ardsley Advisory Partners now owns 192,700 shares of the company’s stock valued at $3,002,000 after purchasing an additional 137,700 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of AquaVenture by 75.9% during the 3rd quarter. SG Americas Securities LLC now owns 27,218 shares of the company’s stock valued at $367,000 after purchasing an additional 11,743 shares in the last quarter. Finally, Hosking Partners LLP bought a new position in shares of AquaVenture during the 4th quarter valued at about $1,063,000. Institutional investors and hedge funds own 35.76% of the company’s stock.
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AquaVenture Company Profile
AquaVenture Holdings Limited provides water-as-a-service solutions in North America, the Caribbean, and South America. The company operates in two segments, Seven Seas Water and Quench. It offers desalination and wastewater treatment solutions for governmental, municipal, industrial, and hospitality customers; and point-of-use filtered water systems and related services to approximately 40,000 institutional and commercial customers.
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