Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Down – Should You Sell?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) gapped down prior to trading on Friday . The stock had previously closed at $16.41, but opened at $15.02. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $15.27, with a volume of 220,786 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBS shares. The Goldman Sachs Group raised shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note on Sunday, October 6th. StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 6.5 %

The stock has a fifty day moving average of $16.33 and a 200-day moving average of $15.86. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 5.91 and a beta of 1.16. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the first quarter worth about $198,000. Jane Street Group LLC raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 129.9% during the first quarter. Jane Street Group LLC now owns 332,201 shares of the utilities provider’s stock valued at $5,591,000 after acquiring an additional 187,706 shares during the period. First Affirmative Financial Network lifted its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,069 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 17.2% in the 2nd quarter. Simplicity Wealth LLC now owns 19,581 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 2,869 shares during the period. Finally, Blue Trust Inc. boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 32.1% in the 2nd quarter. Blue Trust Inc. now owns 15,890 shares of the utilities provider’s stock worth $214,000 after purchasing an additional 3,861 shares during the period. Institutional investors and hedge funds own 10.62% of the company’s stock.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.