Global Water Resources (NASDAQ:GWRS) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Global Water Resources (NASDAQ:GWRS) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting negative sentiment among analysts.
• The company's stock price recently opened at $9.86, down 0.8%, and has a market capitalization of approximately $270.85 million.
• Large investors have been increasing their stakes, with significant gains noted by firms such as JPMorgan Chase & Co., which increased its holdings by 110.3%.

Global Water Resources (NASDAQ:GWRS - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Global Water Resources Stock Performance

NASDAQ:GWRS traded down $0.07 on Friday, reaching $9.70. 43,278 shares of the company's stock were exchanged, compared to its average volume of 66,647. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $266.46 million, a price-to-earnings ratio of 44.09, a P/E/G ratio of 2.96 and a beta of 1.05. Global Water Resources has a 52 week low of $9.37 and a 52 week high of $13.98. The stock has a fifty day simple moving average of $10.17 and a 200-day simple moving average of $10.49.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Global Water Resources had a net margin of 10.27% and a return on equity of 9.67%. The firm had revenue of $14.24 million during the quarter, compared to analyst estimates of $14.20 million. As a group, sell-side analysts predict that Global Water Resources will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GWRS. Heartland Advisors Inc. bought a new position in shares of Global Water Resources in the first quarter worth approximately $4,640,000. Redmond Asset Management LLC grew its holdings in shares of Global Water Resources by 144.3% in the second quarter. Redmond Asset Management LLC now owns 328,587 shares of the utilities provider's stock worth $3,348,000 after purchasing an additional 194,091 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Global Water Resources by 11.3% in the first quarter. Handelsbanken Fonder AB now owns 1,525,000 shares of the utilities provider's stock worth $15,723,000 after purchasing an additional 155,000 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of Global Water Resources by 46.3% in the first quarter. North Star Investment Management Corp. now owns 342,593 shares of the utilities provider's stock worth $3,532,000 after purchasing an additional 108,500 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Global Water Resources by 222.7% in the second quarter. Los Angeles Capital Management LLC now owns 51,286 shares of the utilities provider's stock worth $523,000 after purchasing an additional 35,395 shares during the last quarter. 27.91% of the stock is owned by hedge funds and other institutional investors.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.