Global Water Resources (NASDAQ:GWRS) Shares Pass Below 50 Day Moving Average – Time to Sell?

Global Water Resources, Inc. (NASDAQ:GWRS)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.34 and traded as low as $7.22. Global Water Resources shares last traded at $7.24, with a volume of 105,587 shares trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on GWRS. Freedom Capital downgraded shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $15.00.

Global Water Resources Trading Down 1.0%

The company has a market capitalization of $208.22 million, a P/E ratio of 103.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.68. The company’s fifty day simple moving average is $7.34 and its 200-day simple moving average is $8.10.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. Research analysts predict that Global Water Resources, Inc. will post 0.08 earnings per share for the current year.

Global Water Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0253 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, June 15th. Global Water Resources’s payout ratio is presently 428.57%.

Insider Buying and Selling at Global Water Resources

In other Global Water Resources news, COO Christopher D. Krygier acquired 5,389 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $6.87 per share, for a total transaction of $37,022.43. Following the purchase, the chief operating officer owned 10,485 shares in the company, valued at approximately $72,031.95. The trade was a 105.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Liebman bought 7,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $6.89 per share, with a total value of $48,230.00. Following the completion of the acquisition, the chief financial officer owned 7,000 shares in the company, valued at approximately $48,230. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 30,694 shares of company stock worth $217,048. Company insiders own 53.70% of the company’s stock.

Institutional Investors Weigh In On Global Water Resources

Large investors have recently modified their holdings of the business. Redmond Asset Management LLC grew its holdings in shares of Global Water Resources by 0.5% in the third quarter. Redmond Asset Management LLC now owns 330,272 shares of the utilities provider’s stock valued at $3,402,000 after purchasing an additional 1,685 shares during the period. Barclays PLC increased its stake in shares of Global Water Resources by 4.1% during the fourth quarter. Barclays PLC now owns 45,186 shares of the utilities provider’s stock worth $382,000 after buying an additional 1,784 shares during the period. Rhumbline Advisers increased its stake in shares of Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock worth $181,000 after buying an additional 1,884 shares during the period. Alliancebernstein L.P. increased its stake in Global Water Resources by 16.5% in the third quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Global Water Resources by 152.6% in the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,091 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

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.