Aris Water Solutions (NYSE:ARIS) Shares Gap Up - Here's What Happened

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)'s share price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

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

Aris Water Solutions Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.38 billion, a P/E ratio of 28.48 and a beta of 1.67. The firm has a 50-day simple moving average of $23.19 and a 200-day simple moving average of $25.51.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.15%. As a group, analysts forecast that Aris Water Solutions, Inc. will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Aris Water Solutions in the fourth quarter valued at $27,000. AlphaQuest LLC increased its holdings in Aris Water Solutions by 7,114.3% in the second quarter. AlphaQuest LLC now owns 1,515 shares of the company's stock valued at $36,000 after buying an additional 1,494 shares in the last quarter. Comerica Bank raised its position in shares of Aris Water Solutions by 64.4% during the 1st quarter. Comerica Bank now owns 1,264 shares of the company's stock worth $41,000 after purchasing an additional 495 shares during the last quarter. Harbour Investments Inc. raised 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 worth $49,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aris Water Solutions during the 4th quarter worth approximately $52,000. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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.