Consolidated Water (NASDAQ:CWCO) Downgraded by Wall Street Zen to Hold

Consolidated Water (NASDAQ:CWCO) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings lowered shares of Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Consolidated Water Trading Down 0.5%

CWCO stock opened at $30.53 on Friday. The business’s fifty day moving average price is $36.46 and its 200 day moving average price is $35.32. Consolidated Water has a 12-month low of $22.69 and a 12-month high of $39.12. The company has a market capitalization of $487.19 million, a PE ratio of 31.47 and a beta of 0.50.

Hedge Funds Weigh In On Consolidated Water

Several hedge funds have recently made changes to their positions in CWCO. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Consolidated Water by 2,844.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,443 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,394 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Consolidated Water during the 4th quarter worth approximately $450,000. Inspire Investing LLC grew its stake in Consolidated Water by 11.0% during the 4th quarter. Inspire Investing LLC now owns 34,263 shares of the utilities provider’s stock worth $1,209,000 after buying an additional 3,408 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Consolidated Water during the fourth quarter worth approximately $329,000. Finally, Trexquant Investment LP lifted its stake in Consolidated Water by 1.4% in the fourth quarter. Trexquant Investment LP now owns 47,162 shares of the utilities provider’s stock valued at $1,664,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.