Global Water Resources, Inc. (NASDAQ:GWRS) Short Interest Up 53.6% in March

Global Water Resources, Inc. (NASDAQ:GWRS) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 324,121 shares, an increase of 53.6% from the February 26th total of 211,080 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 111,117 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GWRS. Weiss Ratings lowered Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Insider Activity

In related news, Director Andrew M. Cohn acquired 18,305 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $7.20 per share, with a total value of $131,796.00. Following the acquisition, the director owned 2,560,984 shares of the company’s stock, valued at approximately $18,439,084.80. The trade was a 0.72% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 54.30% of the company’s stock.

Institutional Investors Weigh In On Global Water Resources

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

Global Water Resources Trading Down 0.3%

Shares of Global Water Resources stock traded down $0.02 during trading on Friday, reaching $7.37. The company’s stock had a trading volume of 51,691 shares, compared to its average volume of 121,160. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.54. Global Water Resources has a 52-week low of $7.12 and a 52-week high of $11.17. The firm’s 50-day moving average is $8.43 and its two-hundred day moving average is $9.05. The company has a market cap of $211.96 million, a price-to-earnings ratio of 73.71 and a beta of 0.96.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $13.73 million. On average, sell-side analysts anticipate that Global Water Resources will post 0.28 earnings per share for the current year.

Global Water Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.0253 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 4.1%. Global Water Resources’s dividend payout ratio (DPR) is currently 300.00%.

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.