Global Water Resources (NASDAQ:GWRS) Upgraded at Wall Street Zen

Global Water Resources (NASDAQ:GWRS) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on GWRS. Weiss Ratings reissued a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Global Water Resources has a consensus rating of “Reduce” and a consensus target price of $15.00.

Global Water Resources Stock Performance

GWRS stock opened at $7.03 on Friday. The stock has a market capitalization of $202.18 million, a PE ratio of 100.43 and a beta of 0.92. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $7.29 and its 200 day simple moving average is $8.05.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Global Water Resources had a return on equity of 3.53% and a net margin of 3.53%.The business had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million. As a group, research analysts forecast that Global Water Resources will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Christopher D. Krygier bought 5,389 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $6.87 per share, with a total value of $37,022.43. Following the completion of the transaction, the chief operating officer owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. This trade represents a 105.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Liebman bought 7,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $6.89 per share, for a total transaction of $48,230.00. Following the completion of the transaction, the chief financial officer directly owned 7,000 shares of the company’s stock, valued at approximately $48,230. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 53.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. TSP Capital Management Group LLC raised its position in Global Water Resources by 134.9% in the fourth quarter. TSP Capital Management Group LLC now owns 757,706 shares of the utilities provider’s stock worth $6,403,000 after acquiring an additional 435,129 shares during the period. BNP Paribas Financial Markets increased its position in Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,601 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Global Water Resources by 258.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after buying an additional 2,812 shares in the last quarter. Russell Investments Group Ltd. increased its position in Global Water Resources by 152.6% in the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after buying an additional 2,091 shares in the last quarter. Finally, Allworth Financial LP increased its position in Global Water Resources by 75,025.0% in the third quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock worth $31,000 after buying an additional 3,001 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.