Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Short Interest Update

Key Points

• Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) experienced a 70.8% increase in short interest in July, with a total of 5,500,000 shares sold short as of July 31st.
• Despite this increase, only 0.8% of the shares are sold short, indicating a relatively low level of bearish sentiment against the stock.
• Wall Street Zen downgraded Sabesp from a "buy" rating to a "hold" rating on May 20th, signaling a more cautious outlook on its stock performance.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 5,500,000 shares, agrowthof70.8% from the July 15th total of 3,220,000 shares. Currently,0.8% of the company's shares are short sold. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 5.2 days. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 5.2 days. Currently,0.8% of the company's shares are short sold.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.1% in the second quarter. Blue Trust Inc. now owns 26,468 shares of the utilities provider's stock worth $582,000 after buying an additional 543 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider's stock worth $41,000 after purchasing an additional 552 shares in the last quarter. First Affirmative Financial Network increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 3.3% during the first quarter. First Affirmative Financial Network now owns 17,932 shares of the utilities provider's stock worth $320,000 after purchasing an additional 565 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.4% during the second quarter. Yousif Capital Management LLC now owns 11,115 shares of the utilities provider's stock worth $244,000 after purchasing an additional 565 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.0% during the second quarter. Sequoia Financial Advisors LLC now owns 12,837 shares of the utilities provider's stock worth $282,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 2.9%

NYSE:SBS traded up $0.6240 during trading hours on Friday, reaching $21.9540. The company's stock had a trading volume of 830,363 shares, compared to its average volume of 1,314,117. The company has a market capitalization of $15.01 billion, a P/E ratio of 7.60 and a beta of 0.70. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 12 month low of $13.87 and a 12 month high of $22.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day moving average price of $20.64 and a two-hundred day moving average price of $19.30.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp currently has a consensus rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company Profile

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.