Global Water Resources (NASDAQ:GWRS) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Global Water Resources, Inc. (NASDAQ:GWRS)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.03 and traded as low as $7.26. Global Water Resources shares last traded at $7.33, with a volume of 76,532 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GWRS shares. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings downgraded Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Global Water Resources has a consensus rating of “Reduce” and an average price target of $15.00.

Global Water Resources Stock Up 0.5%

The company has a market cap of $214.26 million, a P/E ratio of 74.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 0.76. The business’s fifty day moving average is $7.96 and its two-hundred day moving average is $8.73.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $13.73 million. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%. Equities analysts predict that Global Water Resources, Inc. will post 0.06 EPS for the current year.

Global Water Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Thursday, April 16th. Global Water Resources’s dividend payout ratio is currently 300.00%.

Insider Activity

In other news, Director Andrew M. Cohn purchased 18,305 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $7.20 per share, with a total value of $131,796.00. Following the transaction, the director owned 2,560,984 shares of the company’s stock, valued at $18,439,084.80. This represents a 0.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 53.70% of the company’s stock.

Institutional Trading of Global Water Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP increased its position in Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 3,001 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,091 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Global Water Resources by 120.9% during the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Global Water Resources during the fourth quarter valued at approximately $84,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.