Consolidated Water (NASDAQ:CWCO) Cut to Strong Sell at Zacks Research

Consolidated Water (NASDAQ:CWCO) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, Zacks reports.

Several other research firms also recently commented on CWCO. Wall Street Zen downgraded shares of Consolidated Water from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered Consolidated Water from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Water presently has a consensus rating of “Reduce”.

Consolidated Water Price Performance

Shares of NASDAQ:CWCO traded down $0.39 during trading on Thursday, hitting $24.90. 143,288 shares of the company’s stock were exchanged, compared to its average volume of 130,344. Consolidated Water has a 52-week low of $24.86 and a 52-week high of $39.12. The business’s 50-day simple moving average is $28.11 and its 200 day simple moving average is $31.08. The company has a market cap of $398.65 million, a price-to-earnings ratio of 30.00 and a beta of 0.56.

Consolidated Water (NASDAQ:CWCO) last issued its earnings results on Monday, November 9th. The utilities provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $30.92 million for the quarter, compared to the consensus estimate of $32.10 million. Consolidated Water had a return on equity of 5.81% and a net margin of 10.49%. On average, sell-side analysts anticipate that Consolidated Water will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $28.93, for a total transaction of $28,930.00. Following the transaction, the director owned 2,038 shares of the company’s stock, valued at approximately $58,959.34. The trade was a 32.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CWCO. Meeder Asset Management Inc. purchased a new stake in shares of Consolidated Water in the first quarter valued at $91,000. Integrated Wealth Concepts LLC bought a new stake in shares of Consolidated Water in the 2nd quarter worth about $92,000. Byrne Asset Management LLC lifted its holdings in shares of Consolidated Water by 1,674.7% in the 2nd quarter. Byrne Asset Management LLC now owns 5,324 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 5,024 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Consolidated Water during the 1st quarter worth about $202,000. Finally, First Nebraska Trust Co purchased a new position in shares of Consolidated Water during the 3rd quarter worth about $236,000. 55.16% of the stock is owned by hedge funds and other institutional investors.

Consolidated Water Company Profile

Consolidated Water Co. Ltd. develops and operates water treatment and desalination facilities, with a focus on seawater reverse osmosis. The company produces and supplies potable water to public utilities and other customers, and provides engineering, procurement, construction and operating services for water projects. Founded in 1970, the company has a longstanding presence in the Caribbean. Its water operations include the Cayman Islands and the Bahamas, and it has also served customers in the British Virgin Islands.