Select Water Solutions, Inc. (NYSE:WTTR) Sees Large Growth in Short Interest

Select Water Solutions, Inc. (NYSE:WTTR) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,970,000 shares, an increase of 35.9% from the February 13th total of 5,130,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 6.4% of the company’s stock are short sold.

Select Water Solutions Stock Down 1.6 %

Shares of NYSE WTTR traded down $0.16 during mid-day trading on Tuesday, reaching $9.49. The company had a trading volume of 503,148 shares, compared to its average volume of 1,102,340. Select Water Solutions has a twelve month low of $8.60 and a twelve month high of $15.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The stock has a market capitalization of $1.13 billion, a PE ratio of 31.64 and a beta of 1.77. The stock’s 50 day moving average is $12.47 and its 200-day moving average is $12.40.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). The business had revenue of $349.05 million during the quarter, compared to the consensus estimate of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. As a group, equities analysts anticipate that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio is presently 93.33%.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their price target on shares of Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 10th.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 26,550 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value of $349,398.00. Following the transaction, the chief executive officer now directly owns 2,898,578 shares of the company’s stock, valued at approximately $38,145,286.48. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after purchasing an additional 1,525 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after acquiring an additional 1,007 shares during the period. Amundi boosted its holdings in Select Water Solutions by 83.8% during the fourth quarter. Amundi now owns 9,010 shares of the company’s stock valued at $119,000 after acquiring an additional 4,109 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Select Water Solutions by 13.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock valued at $126,000 after acquiring an additional 1,143 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new stake in Select Water Solutions during the third quarter valued at about $107,000. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.