Short Interest in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Grows By 66.4%

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 24,149,215 shares, an increase of 66.4% from the July 15th total of 14,515,329 shares. Based on an average trading volume of 6,203,907 shares, the days-to-cover ratio is currently 3.9 days. Currently, 0.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBS. Zacks Research cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% during the first quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock worth $2,717,000 after purchasing an additional 118,237 shares during the last quarter. Cetera Investment Advisers increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% in the 2nd quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock valued at $275,000 after buying an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock valued at $1,329,000 after buying an additional 9,169 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider’s stock worth $1,099,000 after buying an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 22.6% during the 2nd quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider’s stock worth $22,021,000 after buying an additional 184,486 shares in the last quarter. 10.62% of the stock is owned by institutional investors.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 0.7%

Shares of NYSE:SBS traded down $0.03 during mid-day trading on Monday, hitting $4.57. 13,530,110 shares of the company traded hands, compared to its average volume of 6,860,901. The stock has a 50-day moving average price of $5.54 and a two-hundred day moving average price of $75.00. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 12-month low of $4.18 and a 12-month high of $7.16. The stock has a market cap of $16.08 billion, a P/E ratio of 12.81, a P/E/G ratio of 3.92 and a beta of 0.68. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 23.93% and a return on equity of 14.03%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.23 billion. On average, equities research analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 earnings per share for the current year.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.