Short Interest in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Drops By 40.5%

Key Points

• Companhia de Saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) experienced a significant decline in short interest, decreasing by 40.5% from 5.38 million shares to 3.2 million shares as of August 31.
• Ratings from analysts on SBS shares have varied, with Zacks Research upgrading it from "hold" to "strong-buy", while Wall Street Zen downgraded it from "buy" to "hold", leading to an average rating of "Strong Buy".
• The company has a market capitalization of $16.37 billion, and its stock recently traded at $23.95 with a P/E ratio of 8.29.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 3,200,000 shares, a decrease of 40.5% from the August 15th total of 5,380,000 shares. Approximately 0.5% of the company's stock are short sold. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is currently 3.0 days. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is currently 3.0 days. Approximately 0.5% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SBS shares. Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Zacks Research raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Price Performance

SBS traded up $0.48 on Monday, reaching $23.95. The company had a trading volume of 386,177 shares, compared to its average volume of 1,049,305. The company has a fifty day moving average of $21.08 and a 200-day moving average of $19.93. The company has a market capitalization of $16.37 billion, a P/E ratio of 8.29 and a beta of 0.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $13.87 and a one year high of $24.01.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 150.4% during the 4th quarter. Jane Street Group LLC now owns 33,876 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 20,349 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.7% during the 4th quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider's stock valued at $422,000 after purchasing an additional 776 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter valued at about $218,000. Quantinno Capital Management LP boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 9.3% during the 4th quarter. Quantinno Capital Management LP now owns 14,573 shares of the utilities provider's stock valued at $209,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 4.9% during the 4th quarter. Two Sigma Advisers LP now owns 99,400 shares of the utilities provider's stock valued at $1,424,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors own 10.62% of the company's stock.

About Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.

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