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

According to Zacks, “Consolidated Water 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. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, The Bahamas and Belize. However, Consolidated Water’s shares have gained lower than the industry in the last 12 months. Its earnings per share in the third quarter were lower than the Zacks Consensus Estimate. Hurricane Irma has affected operations of the company’s water treatment plants but its impact was minimal in the reported 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.”

A number of other equities analysts also recently issued reports on CWCO. TheStreet upgraded Consolidated Water from a “c+” rating to a “b-” rating in a research report on Friday, November 24th. Roth Capital set a $15.00 price objective on Consolidated Water and gave the stock a “buy” rating in a research report on Monday, November 13th.

Consolidated Water (CWCO) opened at $13.15 on Wednesday. Consolidated Water has a 1 year low of $9.80 and a 1 year high of $13.95. The stock has a market capitalization of $197.45, a PE ratio of 24.09, a PEG ratio of 3.54 and a beta of 0.88.

A number of hedge funds have recently modified their holdings of CWCO. NJ State Employees Deferred Compensation Plan grew its stake in Consolidated Water by 125.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 90,000 shares of the utilities provider’s stock valued at $1,152,000 after acquiring an additional 50,000 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Consolidated Water during the 1st quarter valued at $196,000. Icon Advisers Inc. Co. raised its stake in shares of Consolidated Water by 16.9% during the 2nd quarter. Icon Advisers Inc. Co. now owns 131,042 shares of the utilities provider’s stock valued at $1,625,000 after purchasing an additional 18,990 shares during the period. Nationwide Fund Advisors raised its stake in shares of Consolidated Water by 27.1% during the 2nd quarter. Nationwide Fund Advisors now owns 52,486 shares of the utilities provider’s stock valued at $651,000 after purchasing an additional 11,200 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Consolidated Water by 51.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,163 shares of the utilities provider’s stock valued at $882,000 after purchasing an additional 24,256 shares during the period. Institutional investors and hedge funds own 48.89% of the company’s stock.

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Consolidated Water Company Profile

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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