Select Water Solutions (NYSE:WTTR) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler assumed coverage on shares of Select Water Solutions (NYSE:WTTR - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $15.00 price target on the stock. Piper Sandler's price objective suggests a potential upside of 58.95% from the stock's current price.

Other equities analysts have also issued research reports about the company. Raymond James Financial dropped their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Friday, May 9th. Citigroup dropped their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $14.88.

Select Water Solutions Stock Up 0.2%

Select Water Solutions stock traded up $0.02 during midday trading on Tuesday, reaching $9.44. The company's stock had a trading volume of 507,531 shares, compared to its average volume of 1,096,743. Select Water Solutions has a fifty-two week low of $7.20 and a fifty-two week high of $15.14. The company has a quick ratio of 1.67, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.13 billion, a P/E ratio of 27.72 and a beta of 1.20. The business has a 50-day simple moving average of $8.83 and a 200-day simple moving average of $10.30.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The company had revenue of $374.38 million for the quarter, compared to analysts' expectations of $360.78 million. During the same period last year, the firm earned $0.04 earnings per share. Select Water Solutions's quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after buying an additional 1,525 shares during the last quarter. State of Wyoming grew its holdings in shares of Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company's stock worth $62,000 after buying an additional 1,509 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after buying an additional 6,980 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Select Water Solutions during the first quarter worth about $113,000. Finally, Amundi grew its holdings in shares of Select Water Solutions by 83.8% during the fourth quarter. Amundi now owns 9,010 shares of the company's stock worth $119,000 after buying an additional 4,109 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.