Consolidated Water Co. Ltd. (NASDAQ:CWCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Year to dates shares of Consolidated Water Co. have gained higher than the industry. Consolidated Water Co. is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. Hurricane Irma has affected operations of the company’s water treatment plants due to power outages and will have an adverse impact on earnings in the third quarter. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”

Consolidated Water Co. (NASDAQ CWCO) traded down 0.39% during trading on Wednesday, reaching $12.90. The company had a trading volume of 28,237 shares. Consolidated Water Co. has a one year low of $9.80 and a one year high of $13.50. The company has a 50-day moving average price of $12.46 and a 200 day moving average price of $12.22. The company has a market capitalization of $192.21 million, a price-to-earnings ratio of 65.15 and a beta of 0.91.

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Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in Consolidated Water Co. by 13.7% in the 1st quarter. Wells Fargo & Company MN now owns 31,462 shares of the utilities provider’s stock valued at $367,000 after buying an additional 3,779 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Consolidated Water Co. in the 1st quarter valued at about $196,000. Russell Investments Group Ltd. increased its stake in Consolidated Water Co. by 51.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 71,163 shares of the utilities provider’s stock valued at $882,000 after buying an additional 24,256 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in Consolidated Water Co. by 16.9% in the 2nd quarter. Icon Advisers Inc. Co. now owns 131,042 shares of the utilities provider’s stock valued at $1,625,000 after buying an additional 18,990 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Consolidated Water Co. by 10.5% in the 4th quarter. Teachers Advisors LLC now owns 23,541 shares of the utilities provider’s stock valued at $255,000 after buying an additional 2,233 shares during the last quarter. Hedge funds and other institutional investors own 45.72% of the company’s stock.

About Consolidated Water Co.

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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