York Water (NASDAQ:YORW) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• York Water shares crossed above their 200-day moving average, reaching $33.00 versus the $31.01 average, with 111,786 shares traded.
• Analysts maintain a generally neutral view: York Water has an average “Hold” rating and a consensus price target of $31.00, below the recent trading price.
• The company exceeded quarterly expectations, reporting earnings per share of $0.49 versus the $0.40 estimate and revenue of $23.52 million versus the $22.18 million consensus.

Shares of The York Water Company (NASDAQ:YORW - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.01 and traded as high as $33.00. York Water shares last traded at $33.00, with a volume of 111,786 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of York Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Cantor Fitzgerald set a $31.00 target price on shares of York Water in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.00.

York Water Trading Up 1.4%

The business has a 50 day simple moving average of $30.79 and a 200 day simple moving average of $31.01. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.72 and a quick ratio of 0.60. The company has a market cap of $535.59 million, a price-to-earnings ratio of 20.50 and a beta of 0.60.

York Water (NASDAQ:YORW - Get Free Report) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The company had revenue of $23.52 million during the quarter, compared to analyst estimates of $22.18 million. York Water had a return on equity of 9.91% and a net margin of 28.53%.

Hedge Funds Weigh In On York Water

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of York Water during the second quarter valued at approximately $29,000. Advisory Services Network LLC bought a new position in York Water in the 3rd quarter worth approximately $31,000. Parallel Advisors LLC lifted its holdings in York Water by 589.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,179 shares of the utilities provider's stock worth $36,000 after buying an additional 1,008 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in York Water by 62.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,148 shares of the utilities provider's stock worth $37,000 after buying an additional 441 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in York Water by 86.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,411 shares of the utilities provider's stock worth $45,000 after buying an additional 656 shares in the last quarter. 49.86% of the stock is owned by institutional investors.

York Water Company Profile

York Water Company NASDAQ: YORW is an investor-owned regulated water utility headquartered in York, Pennsylvania. Founded in 1816, it is the oldest publicly traded water utility in the United States. The company's principal operations involve the collection, treatment and distribution of potable water to residential, commercial and industrial customers under rate schedules approved by the Pennsylvania Public Utility Commission.

York Water Company's service territory covers portions of south-central Pennsylvania, including York County and neighboring Adams and Franklin counties.

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