Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sees Significant Increase in Short Interest

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 target 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. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 5.2 days. Approximately0.8% of the shares of the stock are sold short. Approximately0.8% of the shares of the stock are sold short. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 5.2 days.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Price Performance

SBS traded up $0.37 on Monday, hitting $21.96. 604,170 shares of the stock were exchanged, compared to its average volume of 1,316,102. 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 business has a 50-day moving average of $20.60 and a two-hundred day moving average of $19.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 7.60 and a beta of 0.70.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SBS. Brooklyn Investment Group raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% during the first quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after acquiring an additional 1,394 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 acquiring an additional 552 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth about $44,000. EverSource Wealth Advisors LLC raised its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 246.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider's stock worth $51,000 after acquiring an additional 1,666 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the first quarter worth about $54,000. Institutional investors and hedge funds own 10.62% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th.

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.

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