Zacks Investment Research Upgrades Alkaline Water (OTCMKTS:WTER) to Hold

Alkaline Water (OTCMKTS:WTER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “The Alkaline Water Company Inc. (Alkaline) is a premier bottler of alkaline drinking water, with an 8.8 pH balance. Alkaline employs a state-of-the-art Electrochemically Activated Water (ECA) system to create 8.8 pH drinking water without the use of any extraneous chemicals. The ECA process uses specialized electronic cells coated with a variety of rare earth minerals to produce scientifically engineered water. The Company further incorporate trace Himalayan minerals considered to be the finest in the world suited to a premier beverage. Alkaline88 contains 84 trace Himalayan minerals beneficial to the active consumer. The Company’s stores include convenience stores, natural food products stores, ethnic markets, national retailers and regional grocery chains across the United States. Alkaline is currently in the midst of a national mass-market expansion program, where the product is available for consumer sales. The Company sells all of its products to its retailers through brokers and distributors. “

Separately, HC Wainwright began coverage on Alkaline Water in a report on Wednesday, November 10th. They issued a “buy” rating and a $2.50 price objective on the stock.

WTER opened at $1.13 on Thursday. The business’s 50-day simple moving average is $1.30 and its 200-day simple moving average is $1.57. Alkaline Water has a one year low of $0.96 and a one year high of $2.35.

Alkaline Water (OTCMKTS:WTER) last posted its earnings results on Tuesday, November 9th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). Alkaline Water had a negative return on equity of 263.88% and a negative net margin of 22.16%. The firm had revenue of $15.26 million for the quarter, compared to analyst estimates of $15.00 million.

Several institutional investors have recently modified their holdings of the stock. UBS Group AG raised its holdings in Alkaline Water by 31.1% in the 3rd quarter. UBS Group AG now owns 33,462 shares of the company’s stock valued at $53,000 after acquiring an additional 7,945 shares during the last quarter. Keebeck Wealth Management LLC raised its holdings in Alkaline Water by 48.2% in the 2nd quarter. Keebeck Wealth Management LLC now owns 26,149 shares of the company’s stock valued at $40,000 after acquiring an additional 8,500 shares during the last quarter. Creative Planning raised its holdings in Alkaline Water by 33.7% in the 3rd quarter. Creative Planning now owns 33,743 shares of the company’s stock valued at $54,000 after acquiring an additional 8,500 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Alkaline Water by 13.6% in the 2nd quarter. Penserra Capital Management LLC now owns 119,016 shares of the company’s stock valued at $181,000 after acquiring an additional 14,208 shares during the last quarter. Finally, Barclays PLC raised its holdings in Alkaline Water by 255.0% in the 3rd quarter. Barclays PLC now owns 23,128 shares of the company’s stock valued at $37,000 after acquiring an additional 16,613 shares during the last quarter.

Alkaline Water Company Profile

The Alkaline Water Co, Inc engages in the business of distributing, marketing and selling of bottled alkaline water in the Untied States of America. It offers retail consumers bottled alkaline water in 1-gallon, 3-liter, 1.5-liter, 1-liter, 700ml, and 500ml sizes under the trade name Alkaline88. The firm also offers retail consumers flavor infused bottled water in the 500-milliliter size in six flavors: Raspberry, Watermelon, Lemon, Lemon Lime, Peach Mango, and Blood Orange.

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