Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sees Significant Decrease in Short Interest

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) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 3,200,000 shares, a drop of 40.5% from the August 15th total of 5,380,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 3.0 days. Currently, 0.5% of the shares of the company are sold short. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

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

Shares of SBS stock traded up $0.18 during trading hours on Friday, hitting $24.57. 1,832,383 shares of the company were exchanged, compared to its average volume of 1,060,148. The firm has a fifty day simple moving average of $21.35 and a 200 day simple moving average of $20.09. 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 52-week low of $13.87 and a 52-week high of $24.89. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 8.50 and a beta of 0.86.

Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 42.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the utilities provider's stock valued at $41,000 after buying an additional 552 shares in the last quarter. Brooklyn Investment Group lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 166.0% in the 1st quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after purchasing an additional 1,394 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 246.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider's stock worth $51,000 after purchasing an additional 1,666 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 1st quarter worth approximately $44,000. Finally, Parallel Advisors LLC lifted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 88.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,885 shares of the utilities provider's stock worth $63,000 after purchasing an additional 1,352 shares in the last quarter. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

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.