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

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 equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Global Water Resources Stock Down 0.2%

Shares of NASDAQ:GWRS traded down $0.0150 during trading on Friday, reaching $9.8550. The stock had a trading volume of 17,879 shares, compared to its average volume of 47,156. Global Water Resources has a one year low of $9.37 and a one year high of $13.98. The company has a market capitalization of $270.75 million, a P/E ratio of 44.87, a PEG ratio of 3.06 and a beta of 1.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.54. The firm's 50-day simple moving average is $10.21 and its 200 day simple moving average is $10.50.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share for the quarter, meeting 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 business had revenue of $14.24 million for the quarter, compared to analysts' expectations of $14.20 million. As a group, research analysts expect that Global Water Resources will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Water Resources

Institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Global Water Resources during the 2nd quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its position in Global Water Resources by 258.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider's stock worth $40,000 after buying an additional 2,812 shares during the last quarter. Jane Street Group LLC purchased a new position in Global Water Resources during the 1st quarter worth approximately $109,000. Blair William & Co. IL purchased a new position in Global Water Resources during the 1st quarter worth approximately $113,000. Finally, Atria Investments Inc purchased a new position in Global Water Resources during the 2nd quarter worth approximately $160,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

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.