Wall Street Zen Downgrades Consolidated Water (NASDAQ:CWCO) to Hold

Key Points

• Consolidated Water's stock rating was downgraded by Wall Street Zen from "buy" to "hold," despite having a consensus rating of "buy" and an average price target of $40.00.
• Roth Capital raised its price target for Consolidated Water from $38.00 to $40.00, reflecting confidence in the company amidst mixed analyst ratings.
• Director Raymond Whittaker sold 4,755 shares at an average price of $33.35, significantly reducing his stake in the company by 82.62%.

Consolidated Water (NASDAQ:CWCO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Roth Capital boosted their price objective on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Consolidated Water presently has an average rating of "Buy" and a consensus price target of $40.00.

Consolidated Water Trading Down 0.1%

NASDAQ:CWCO traded down $0.05 during trading hours on Friday, hitting $34.48. 8,585 shares of the stock were exchanged, compared to its average volume of 121,920. Consolidated Water has a 52-week low of $22.69 and a 52-week high of $34.83. The firm's fifty day moving average price is $31.70 and its 200 day moving average price is $28.32. The company has a market cap of $549.19 million, a P/E ratio of 21.28 and a beta of 0.57.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.20 by $0.12. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%.The company had revenue of $33.59 million during the quarter, compared to analyst estimates of $32.75 million. Equities analysts expect that Consolidated Water will post 1.27 EPS for the current fiscal year.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 4,755 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $33.35, for a total transaction of $158,579.25. Following the sale, the director owned 1,000 shares of the company's stock, valued at approximately $33,350. This represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.25% of the company's stock.

Institutional Trading of Consolidated Water

A number of large investors have recently modified their holdings of CWCO. Bank of America Corp DE increased its position in shares of Consolidated Water by 15.1% during the fourth quarter. Bank of America Corp DE now owns 31,050 shares of the utilities provider's stock worth $804,000 after acquiring an additional 4,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Consolidated Water by 7.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,620 shares of the utilities provider's stock worth $301,000 after acquiring an additional 764 shares during the period. Millennium Management LLC purchased a new stake in shares of Consolidated Water during the fourth quarter worth $2,167,000. Man Group plc purchased a new stake in shares of Consolidated Water during the fourth quarter worth $223,000. Finally, State of Wyoming increased its position in shares of Consolidated Water by 125.1% during the fourth quarter. State of Wyoming now owns 8,563 shares of the utilities provider's stock worth $222,000 after acquiring an additional 4,759 shares during the period. Hedge funds and other institutional investors own 55.16% of the company's stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.