Global Water Resources (NASDAQ:GWRS) Stock Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• GWRS fell below its 200-day moving average, trading as low as $7.77 and last changing hands at $7.79, below the $7.90 average. The stock was down 1.8% and remains below its 50-day moving average of $8.44.
• Analysts maintain a cautious outlook, with two Hold ratings and an average price target of $15.00. The company’s latest quarterly results exceeded expectations, reporting $0.04 in EPS and $17.77 million in revenue.
• Global Water Resources declared a monthly dividend of $0.0253 per share, equivalent to a 3.9% annualized yield, though its payout ratio is high at 272.73%. Director Andrew Cohn also purchased 139,343 shares, increasing his position by 5.44%.

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $7.90 and traded as low as $7.77. Global Water Resources shares last traded at $7.79, with a volume of 53,683 shares changing hands.

Analysts Set New Price Targets

GWRS has been the topic of several research analyst reports. Wall Street Zen upgraded Global Water Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Global Water Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Global Water Resources presently has an average rating of "Hold" and an average price target of $15.00.

Global Water Resources Stock Down 1.8%

The firm has a market cap of $224.31 million, a price-to-earnings ratio of 70.82 and a beta of 0.95. The stock has a 50-day moving average of $8.44 and a 200-day moving average of $7.90. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.62.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%. As a group, sell-side analysts forecast that Global Water Resources, Inc. will post 0.09 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.0253 per share. The ex-dividend date is Friday, October 16th. This represents a $0.30 annualized dividend and a dividend yield of 3.9%. Global Water Resources's payout ratio is currently 272.73%.

Insider Transactions at Global Water Resources

In other Global Water Resources news, Director Andrew Cohn acquired 139,343 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the acquisition, the director directly owned 2,701,350 shares of the company's stock, valued at $23,906,947.50. This represents a 5.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cullen Capital Management LLC acquired a new position in shares of Global Water Resources during the second quarter valued at $242,000. Bank of New York Mellon Corp acquired a new stake in Global Water Resources in the second quarter worth about $253,000. Dynamic Advisor Solutions LLC lifted its holdings in Global Water Resources by 4.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider's stock worth $404,000 after purchasing an additional 2,133 shares during the period. North Star Investment Management Corp. lifted its holdings in Global Water Resources by 36.5% in the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider's stock worth $3,153,000 after purchasing an additional 111,000 shares during the period. Finally, Heartland Advisors Inc. grew its position in Global Water Resources by 21.1% in the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider's stock valued at $6,308,000 after buying an additional 144,600 shares in the last quarter. Institutional investors and hedge funds own 27.91% of the company's stock.

Global Water Resources Company Profile

Global Water Resources, Inc NASDAQ: GWRS is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.

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