Water Intelligence (LON:WATR) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Water Intelligence plc's share price has fallen below its 200-day moving average, dipping to GBX 300 ($4.05), significantly below the average of GBX 347.57 ($4.69).
• Despite the drop, Canaccord Genuity Group has initiated coverage with a buy rating and a target price of GBX 500, reflecting analyst confidence in the stock.
• The company's financial metrics indicate a market cap of £73.98 million and a PE ratio of 13.93, suggesting potential for growth despite current market fluctuations.

Water Intelligence plc (LON:WATR - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 347.57 ($4.68) and traded as low as GBX 300 ($4.04). Water Intelligence shares last traded at GBX 310 ($4.17), with a volume of 82,719 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group started coverage on Water Intelligence in a research report on Tuesday, August 12th. They set a "buy" rating and a GBX 500 price objective for the company. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of GBX 500.

Water Intelligence Stock Performance

The company has a market cap of £72.94 million, a price-to-earnings ratio of 13.73, a P/E/G ratio of -1.23 and a beta of 0.47. The firm's fifty day moving average price is GBX 324.49 and its 200-day moving average price is GBX 344.41. The company has a debt-to-equity ratio of 32.90, a current ratio of 1.38 and a quick ratio of 2.17.

Water Intelligence Company Profile

Water Intelligence plc, together with its subsidiaries, provides leak detection and remediation services for potable and non-potable water in the United States, the United Kingdom, Australia, Canada, and internationally. The company operates through Franchise Royalty Income, Franchise-Related Activities, US Corporate Operated Locations, and International Corporate Operated Locations segments.