Global Water Resources, Inc. (NASDAQ:GWRS) has been given a $11.00 target price by Roth Capital in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the utilities provider’s stock. Roth Capital’s price target would indicate a potential upside of 16.53% from the stock’s current price.

Separately, Zacks Investment Research raised Global Water Resources from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th.

Shares of Global Water Resources (NASDAQ:GWRS) opened at 9.44 on Wednesday. Global Water Resources has a one year low of $7.50 and a one year high of $10.00. The stock’s market cap is $184.84 million. The company’s 50-day moving average price is $9.69 and its 200-day moving average price is $9.01.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Global Water Resources had a return on equity of 10.14% and a net margin of 5.05%. The firm had revenue of $8.15 million during the quarter, compared to the consensus estimate of $7.90 million. Equities research analysts anticipate that Global Water Resources will post $0.12 earnings per share for the current year.

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In related news, Director William S. Levine purchased 20,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $8.55 per share, with a total value of $171,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L Rita Theil sold 25,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $9.23, for a total value of $230,750.00. Following the sale, the director now directly owns 2,666 shares of the company’s stock, valued at approximately $24,607.18. The disclosure for this sale can be found here. Insiders have acquired 20,501 shares of company stock valued at $175,824 in the last three months.

A number of hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC bought a new stake in Global Water Resources during the first quarter valued at about $432,000. North Star Investment Management Corp. raised its stake in Global Water Resources by 5.6% in the first quarter. North Star Investment Management Corp. now owns 93,775 shares of the utilities provider’s stock valued at $816,000 after buying an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Global Water Resources by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 146,341 shares of the utilities provider’s stock valued at $1,274,000 after buying an additional 3,077 shares in the last quarter. Bard Associates Inc. raised its stake in Global Water Resources by 8.7% in the first quarter. Bard Associates Inc. now owns 201,325 shares of the utilities provider’s stock valued at $1,752,000 after buying an additional 16,100 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Global Water Resources by 7.5% in the first quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after buying an additional 1,172 shares in the last quarter. 16.77% of the stock is owned by institutional investors and hedge funds.

About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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