Aris Water Solutions (NYSE:ARIS) Shares Gap Up - What's Next?

Key Points

• Aris Water Solutions shares experienced a significant gap up, opening at $24.41 after closing at $19.93, with the last trade recorded at $24.34.
• Analysts have mixed views on the stock, with Goldman Sachs lowering its price target from $34.00 to $30.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company reported a quarterly earnings per share (EPS) of $0.25, surpassing the consensus estimate of $0.23, along with revenue of $120.49 million.

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $19.93, but opened at $24.41. Aris Water Solutions shares last traded at $24.34, with a volume of 872,575 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded Aris Water Solutions from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Citigroup restated a "neutral" rating on shares of Aris Water Solutions in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. started coverage on Aris Water Solutions in a report on Tuesday, July 29th. They set a "neutral" rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Aris Water Solutions has a consensus rating of "Hold" and a consensus price target of $26.50.

Aris Water Solutions Trading Up 20.6%

The company has a market cap of $1.42 billion, a P/E ratio of 29.35 and a beta of 1.67. The firm's 50 day moving average is $23.12 and its two-hundred day moving average is $25.68. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.63.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Aris Water Solutions had a net margin of 6.15% and a return on equity of 3.77%. The company had revenue of $120.49 million during the quarter, compared to the consensus estimate of $115.72 million. As a group, equities research analysts anticipate that Aris Water Solutions, Inc. will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Aris Water Solutions

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in Aris Water Solutions during the fourth quarter valued at about $27,000. Comerica Bank boosted its stake in Aris Water Solutions by 64.4% in the first quarter. Comerica Bank now owns 1,264 shares of the company's stock valued at $41,000 after acquiring an additional 495 shares during the last quarter. AlphaQuest LLC grew its position in shares of Aris Water Solutions by 7,114.3% during the 2nd quarter. AlphaQuest LLC now owns 1,515 shares of the company's stock valued at $36,000 after acquiring an additional 1,494 shares during the period. Harbour Investments Inc. grew its position in shares of Aris Water Solutions by 478.2% during the 1st quarter. Harbour Investments Inc. now owns 1,538 shares of the company's stock valued at $49,000 after acquiring an additional 1,272 shares during the period. Finally, CWM LLC increased its stake in shares of Aris Water Solutions by 303.4% during the 1st quarter. CWM LLC now owns 1,920 shares of the company's stock worth $62,000 after purchasing an additional 1,444 shares during the last quarter. 39.71% of the stock is owned by hedge funds and other institutional investors.

About Aris Water Solutions

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.

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