Consolidated Water (NASDAQ:CWCO) Rating Lowered to Neutral at Janney Montgomery Scott

Consolidated Water (NASDAQ:CWCOGet Rating) was downgraded by stock analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report released on Wednesday, The Fly reports. They presently have a $19.00 target price on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Consolidated Water from a “c+” rating to a “b” rating in a report on Thursday, April 6th. StockNews.com upgraded shares of Consolidated Water from a “hold” rating to a “buy” rating in a report on Saturday, April 8th. Finally, Roth Capital reiterated a “buy” rating on shares of Consolidated Water in a report on Tuesday, April 4th.

Consolidated Water Stock Performance

Shares of NASDAQ CWCO opened at $19.00 on Wednesday. The company has a 50 day simple moving average of $16.54 and a 200-day simple moving average of $15.72. Consolidated Water has a 1 year low of $11.82 and a 1 year high of $20.58.

Institutional Investors Weigh In On Consolidated Water

Several hedge funds and other institutional investors have recently bought and sold shares of CWCO. BlackRock Inc. increased its stake in Consolidated Water by 452.0% in the first quarter. BlackRock Inc. now owns 209,097 shares of the utilities provider’s stock valued at $2,312,000 after purchasing an additional 171,220 shares during the period. Vanguard Group Inc. acquired a new position in Consolidated Water in the first quarter valued at $1,796,000. KBC Group NV increased its stake in Consolidated Water by 55.8% in the third quarter. KBC Group NV now owns 390,392 shares of the utilities provider’s stock valued at $6,004,000 after purchasing an additional 139,881 shares during the period. Boothbay Fund Management LLC acquired a new position in Consolidated Water in the first quarter valued at $1,519,000. Finally, Millennium Management LLC acquired a new position in shares of Consolidated Water during the second quarter worth about $1,260,000. 43.78% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Water Company Profile

(Get Rating)

Consolidated Water Co Ltd. engages in the development and operation of seawater desalination plants and water distribution systems. It operates through the following segments: Retail, Bulk, Services, and Manufacturing. The Retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Islands.

Further Reading

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