Global Water Resources (NASDAQ:GWRS) Cut to “Hold” at StockNews.com

Global Water Resources (NASDAQ:GWRSGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Global Water Resources Stock Up 0.8 %

Global Water Resources stock opened at $14.34 on Friday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $13.67 and its two-hundred day simple moving average is $14.71. The company has a market cap of $325.76 million, a PE ratio of 65.18, a PEG ratio of 4.98 and a beta of 0.69. Global Water Resources has a fifty-two week low of $12.54 and a fifty-two week high of $21.25.

Global Water Resources (NASDAQ:GWRSGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $10.03 million for the quarter, compared to the consensus estimate of $10.00 million. Global Water Resources had a return on equity of 11.62% and a net margin of 11.05%. Equities analysts anticipate that Global Water Resources will post 0.19 EPS for the current year.

Insider Transactions at Global Water Resources

In related news, Director Andrew M. Cohn bought 111,000 shares of the stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $13.50 per share, for a total transaction of $1,498,500.00. Following the completion of the purchase, the director now directly owns 2,066,240 shares of the company’s stock, valued at $27,894,240. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 45.10% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC raised its holdings in Global Water Resources by 685.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,476 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,288 shares during the period. Amalgamated Bank acquired a new position in Global Water Resources in the 1st quarter worth about $34,000. Allspring Global Investments Holdings LLC acquired a new position in Global Water Resources in the 4th quarter worth about $167,000. Silverhawk Asset Management LLC acquired a new position in Global Water Resources in the 4th quarter worth about $185,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Global Water Resources in the 1st quarter worth about $197,000. Institutional investors and hedge funds own 31.93% of the company’s stock.

About Global Water Resources

(Get Rating)

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2020, it served approximately 74,048 people in approximately 27,630 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.