Global Water Resources (NASDAQ:GWRS) Raised to “Hold” at Wall Street Zen

Global Water Resources (NASDAQ:GWRS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Global Water Resources presently has an average rating of “Reduce” and an average target price of $15.00.

Global Water Resources Stock Performance

Shares of GWRS stock opened at $8.60 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.68. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The stock’s 50-day moving average is $7.23 and its two-hundred day moving average is $7.63. The firm has a market cap of $247.68 million, a P/E ratio of 78.19 and a beta of 0.91.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $17.77 million during the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%. Analysts predict that Global Water Resources will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael J. Liebman purchased 7,000 shares of Global Water Resources stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $6.89 per share, with a total value of $48,230.00. Following the completion of the transaction, the chief financial officer directly owned 7,000 shares of the company’s stock, valued at approximately $48,230. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher D. Krygier purchased 5,389 shares of Global Water Resources stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $6.87 per share, with a total value of $37,022.43. Following the transaction, the chief operating officer directly owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. The trade was a 105.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 53.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Global Water Resources by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider’s stock worth $1,062,000 after purchasing an additional 17,257 shares during the period. Jane Street Group LLC acquired a new position in Global Water Resources during the first quarter valued at approximately $109,000. Rhumbline Advisers raised its position in shares of Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 1,884 shares during the period. Geode Capital Management LLC raised its position in shares of Global Water Resources by 10.3% in the second quarter. Geode Capital Management LLC now owns 299,330 shares of the utilities provider’s stock valued at $3,050,000 after purchasing an additional 27,850 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Global Water Resources by 30.7% in the second quarter. Bank of America Corp DE now owns 40,661 shares of the utilities provider’s stock worth $414,000 after buying an additional 9,539 shares during the last quarter. 27.91% of the stock is owned by 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.