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

Key Points

• Short interest surged 66.4% to 24.15 million shares as of July 31, representing 0.7% of outstanding shares and 3.9 days to cover.
• SABESP shares fell 0.7% to $4.57 and recently traded well below their 50-day moving average. The company also missed quarterly expectations, reporting $0.07 in EPS versus $0.09 expected and revenue of $1.16 billion versus $1.23 billion projected.
• Analyst sentiment remains a Moderate Buy, with two Buy ratings and one Hold rating and a consensus price target of $183.00, while institutional ownership stands at 10.62%.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 24,149,215 shares, a growth of 66.4% from the July 15th total of 14,515,329 shares. Based on an average trading volume of 6,203,907 shares, the days-to-cover ratio is presently 3.9 days. Currently, 0.7% of the company's shares are short sold.

Wall Street Analyst Weigh In

A number of research firms recently commented on SBS. Wall Street Zen lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Monday. Weiss Ratings reissued a "buy (b)" rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a research report on Friday, August 7th. Finally, Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 0.7%

Shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp stock traded down $0.03 on Monday, hitting $4.57. 13,530,110 shares of the company's stock traded hands, compared to its average volume of 6,860,901. The company has a fifty day moving average of $5.54 and a two-hundred day moving average of $75.00. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $4.18 and a one year high of $7.16. The company has a market capitalization of $16.08 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 3.92 and a beta of 0.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.47 and a quick ratio of 1.47.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.23 billion. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 14.03% and a net margin of 23.93%. As a group, sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 349.0% during the first quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider's stock valued at $2,717,000 after purchasing an additional 118,237 shares during the period. Cetera Investment Advisers grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 23.5% in the 2nd quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider's stock valued at $275,000 after buying an additional 2,383 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider's stock valued at $1,329,000 after buying an additional 9,169 shares during the period. Russell Investments Group Ltd. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 18.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider's stock valued at $1,099,000 after buying an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 22.6% in the 2nd quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider's stock valued at $22,021,000 after buying an additional 184,486 shares in the last quarter. 10.62% of the stock is owned by institutional investors.

About Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.

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