Select Water Solutions' (WTTR) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Select Water Solutions (NYSE:WTTR) received a reaffirmed "hold (c)" rating from Weiss Ratings, while Piper Sandler initiated coverage with an "overweight" rating and a target price of $15.00.
• The company's recent earnings report showed a net profit of $0.10 per share, missing expectations and reflecting a 0.3% decline in revenue compared to the previous year.
• Institutional investors have significantly increased their positions in WTTR, with hedge funds owning 81.73% of the stock, indicating growing confidence in the company's potential.

Select Water Solutions (NYSE:WTTR - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Separately, Piper Sandler started coverage on Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $15.00.

Select Water Solutions Stock Performance

WTTR traded up $0.07 on Tuesday, hitting $10.17. 280,786 shares of the company traded hands, compared to its average volume of 1,223,148. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $9.23 and a 200-day moving average of $8.98. Select Water Solutions has a 12-month low of $7.20 and a 12-month high of $15.14. The stock has a market capitalization of $1.23 billion, a PE ratio of 32.74 and a beta of 1.24.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.Select Water Solutions's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Sell-side analysts anticipate that Select Water Solutions will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WTTR. Osaic Holdings Inc. grew its position in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock valued at $42,000 after acquiring an additional 1,830 shares during the period. State of Wyoming grew its position in Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company's stock valued at $62,000 after acquiring an additional 1,509 shares during the period. Creative Financial Designs Inc. ADV increased its position in Select Water Solutions by 380.5% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 8,140 shares of the company's stock worth $70,000 after purchasing an additional 6,446 shares in the last quarter. Jones Financial Companies Lllp increased its position in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Select Water Solutions by 190.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock worth $77,000 after purchasing an additional 5,847 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

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