Consolidated Water (NASDAQ:CWCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Consolidated Water is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, The Bahamas and Belize. However, Consolidated Water’s shares have gained lower than the industry in the last 12 months. Its earnings per share in the third quarter were lower than the Zacks Consensus Estimate. Hurricane Irma has affected operations of the company’s water treatment plants but its impact was minimal in the reported quarter. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”

Several other equities analysts have also weighed in on the stock. TheStreet lowered shares of Consolidated Water from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. Roth Capital set a $15.00 price target on shares of Consolidated Water and gave the company a “buy” rating in a research note on Monday, November 13th.

Consolidated Water (NASDAQ CWCO) opened at $13.15 on Wednesday. The firm has a market cap of $197.45, a PE ratio of 24.09, a PEG ratio of 3.54 and a beta of 0.88. Consolidated Water has a 1 year low of $9.80 and a 1 year high of $13.95.

A number of institutional investors have recently made changes to their positions in CWCO. Uniplan Investment Counsel Inc. grew its stake in Consolidated Water by 37.5% during the third quarter. Uniplan Investment Counsel Inc. now owns 395,565 shares of the utilities provider’s stock worth $5,063,000 after buying an additional 107,871 shares in the last quarter. Icon Advisers Inc. Co. grew its stake in Consolidated Water by 39.1% during the third quarter. Icon Advisers Inc. Co. now owns 182,342 shares of the utilities provider’s stock worth $2,334,000 after buying an additional 51,300 shares in the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in Consolidated Water by 125.0% during the third quarter. NJ State Employees Deferred Compensation Plan now owns 90,000 shares of the utilities provider’s stock worth $1,152,000 after buying an additional 50,000 shares in the last quarter. LSV Asset Management grew its stake in Consolidated Water by 47.8% during the second quarter. LSV Asset Management now owns 126,580 shares of the utilities provider’s stock worth $1,569,000 after buying an additional 40,917 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Consolidated Water by 156.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 52,255 shares of the utilities provider’s stock worth $669,000 after buying an additional 31,879 shares in the last quarter. Hedge funds and other institutional investors own 48.89% of the company’s stock.

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Consolidated Water Company Profile

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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