AquaVenture Holdings’ (WAAS) “Buy” Rating Reiterated at Royal Bank Of Canada
AquaVenture Holdings Ltd (NASDAQ:WAAS)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research report issued to clients and investors on Wednesday. They currently have a $19.00 price target on the stock. Royal Bank Of Canada’s target price points to a potential upside of 46.27% from the stock’s previous close.
WAAS has been the subject of several other reports. Citigroup Inc. reissued a “buy” rating and issued a $21.00 price objective (down from $24.00) on shares of AquaVenture Holdings in a research report on Monday. BidaskClub lowered AquaVenture Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Canaccord Genuity reissued a “buy” rating and issued a $23.00 price objective (down from $28.00) on shares of AquaVenture Holdings in a research report on Thursday, August 10th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $25.00 target price (down from $27.00) on shares of AquaVenture Holdings in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.00.
AquaVenture Holdings (NASDAQ WAAS) traded up 5.974% during midday trading on Wednesday, hitting $13.766. The stock had a trading volume of 88,257 shares. The company’s market capitalization is $363.89 million. AquaVenture Holdings has a 52 week low of $12.52 and a 52 week high of $26.33. The company’s 50-day moving average price is $14.10 and its 200 day moving average price is $14.10.
AquaVenture Holdings (NASDAQ:WAAS) last announced its earnings results on Wednesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.07). AquaVenture Holdings had a negative return on equity of 6.11% and a negative net margin of 18.49%. The company had revenue of $29.00 million for the quarter, compared to the consensus estimate of $30.91 million. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect that AquaVenture Holdings will post ($0.93) EPS for the current year.
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In other news, CEO Douglas R. Brown bought 24,179 shares of AquaVenture Holdings stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $14.66 per share, for a total transaction of $354,464.14. Following the purchase, the chief executive officer now directly owns 1,452,845 shares in the company, valued at approximately $21,298,707.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas R. Brown bought 14,018 shares of AquaVenture Holdings stock in a transaction dated Friday, September 22nd. The stock was purchased at an average price of $14.36 per share, with a total value of $201,298.48. Following the completion of the purchase, the chief executive officer now owns 1,484,042 shares in the company, valued at $21,310,843.12. The disclosure for this purchase can be found here.
Hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new position in AquaVenture Holdings during the 4th quarter valued at about $127,000. Wells Fargo & Company MN boosted its stake in AquaVenture Holdings by 271.9% during the 1st quarter. Wells Fargo & Company MN now owns 9,438 shares of the company’s stock valued at $161,000 after purchasing an additional 6,900 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in AquaVenture Holdings during the 1st quarter valued at about $176,000. The Manufacturers Life Insurance Company boosted its stake in AquaVenture Holdings by 61.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock valued at $173,000 after purchasing an additional 4,324 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in AquaVenture Holdings during the 2nd quarter valued at about $182,000.
About AquaVenture Holdings
AquaVenture Holdings Limited is a multinational provider of Water-as-a-Service solutions. The Company’s segments are Seven Seas Water and Quench. The Seven Seas Water segment provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers.
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