Global Water Resources (NASDAQ:GWRS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Global Water Resources from “sell” to “hold,” while Weiss Ratings maintained a “sell (d+)” rating. The stock’s consensus rating is “Reduce,” with an average price target of $15.
• GWRS shares opened at $8.60 and were down 3.3%; the company recently reported quarterly EPS of $0.04, beating estimates by $0.01, and revenue of $17.77 million, above expectations.
• Company insiders recently bought shares, including purchases by the CFO and COO, while insiders collectively own 53.7% of the stock; institutional investors own 27.91%.

Global Water Resources (NASDAQ:GWRS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Global Water Resources in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Global Water Resources currently has an average rating of "Reduce" and an average target price of $15.00.

Global Water Resources Stock Down 3.3%

GWRS stock opened at $8.60 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $247.64 million, a price-to-earnings ratio of 78.19 and a beta of 0.91. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The stock has a fifty day moving average of $7.23 and a 200-day moving average of $7.63.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $17.77 million for the quarter, compared to analysts' expectations of $14.93 million. Global Water Resources had a return on equity of 3.03% and a net margin of 5.22%. As a group, equities research analysts predict that Global Water Resources will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael J. Liebman purchased 7,000 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $6.89 per share, with a total value of $48,230.00. Following the acquisition, the chief financial officer directly owned 7,000 shares in the company, valued at approximately $48,230. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christopher D. Krygier purchased 5,389 shares of Global Water Resources stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $6.87 per share, with a total value of $37,022.43. Following the completion of the transaction, the chief operating officer directly owned 10,485 shares in the company, valued at approximately $72,031.95. This represents a 105.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 53.70% of the company's stock.

Institutional Investors Weigh In On Global Water Resources

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in Global Water Resources by 75,025.0% during the third quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider's stock worth $31,000 after buying an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider's stock worth $36,000 after acquiring an additional 2,091 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Global Water Resources by 258.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Global Water Resources by 120.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Global Water Resources during the 4th quarter valued at about $84,000. Institutional investors own 27.91% of the company's stock.

About Global Water Resources

Global Water Resources, Inc NASDAQ: GWRS is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.

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