Global Water Resources (NASDAQ:GWRS) Downgraded by Freedom Capital to “Hold”

Global Water Resources (NASDAQ:GWRS) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on GWRS. Roth Mkm set a $15.00 price target on Global Water Resources in a research report on Monday, November 17th. Weiss Ratings downgraded Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

Global Water Resources Stock Performance

NASDAQ:GWRS opened at $8.15 on Thursday. The company has a market cap of $234.39 million, a P/E ratio of 81.51 and a beta of 0.96. The firm’s 50 day moving average is $8.76 and its two-hundred day moving average is $9.29. Global Water Resources has a fifty-two week low of $7.67 and a fifty-two week high of $11.84. The company has a quick ratio of 1.18, a current ratio of 0.76 and a debt-to-equity ratio of 1.54.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, March 4th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $13.54 million for the quarter, compared to analysts’ expectations of $13.73 million. Global Water Resources had a net margin of 5.30% and a return on equity of 4.73%. Analysts expect that Global Water Resources will post 0.28 EPS for the current year.

Institutional Trading of Global Water Resources

Several large investors have recently added to or reduced their stakes in GWRS. Police & Firemen s Retirement System of New Jersey purchased a new position in Global Water Resources in the second quarter valued at about $27,000. Allworth Financial LP raised its holdings in shares of Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after buying an additional 3,001 shares during the period. Russell Investments Group Ltd. lifted its position in Global Water Resources by 152.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Global Water Resources by 258.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 2,812 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 2,601 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.