Global Water Resources, Inc. (NASDAQ:GWRS) Sees Large Drop in Short Interest

by · The Markets Daily

Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 155,180 shares, a decline of 26.6% from the November 30th total of 211,291 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 110,775 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 110,775 shares, the short-interest ratio is presently 1.4 days. Currently, 1.2% of the shares of the company are short sold.

Global Water Resources Stock Performance

Shares of NASDAQ GWRS traded down $0.06 during trading on Wednesday, hitting $8.45. The company had a trading volume of 122,688 shares, compared to its average volume of 59,091. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.18 and a current ratio of 1.18. Global Water Resources has a 12 month low of $8.28 and a 12 month high of $12.32. The stock has a 50 day simple moving average of $9.03 and a 200 day simple moving average of $9.74. The firm has a market capitalization of $242.94 million, a P/E ratio of 52.82 and a beta of 0.98.

Global Water Resources (NASDAQ:GWRS – Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $15.52 million for the quarter, compared to analysts’ expectations of $15.20 million. Global Water Resources had a net margin of 7.87% and a return on equity of 6.84%. As a group, analysts anticipate that Global Water Resources will post 0.28 earnings per share for the current year.

Global Water Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $0.0253 dividend. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, January 16th. Global Water Resources’s dividend payout ratio is 187.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GWRS. Handelsbanken Fonder AB lifted its stake in Global Water Resources by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,700,000 shares of the utilities provider’s stock valued at $17,510,000 after buying an additional 25,000 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Global Water Resources by 2.6% in the second quarter. North Star Investment Management Corp. now owns 351,448 shares of the utilities provider’s stock valued at $3,581,000 after acquiring an additional 8,855 shares during the period. Redmond Asset Management LLC grew its holdings in Global Water Resources by 0.5% in the 3rd quarter. Redmond Asset Management LLC now owns 330,272 shares of the utilities provider’s stock worth $3,402,000 after buying an additional 1,685 shares in the last quarter. TSP Capital Management Group LLC bought a new stake in Global Water Resources during the third quarter worth approximately $3,323,000. Finally, Geode Capital Management LLC grew its holdings in shares of Global Water Resources by 10.3% in the 2nd quarter. Geode Capital Management LLC now owns 299,330 shares of the utilities provider’s stock worth $3,050,000 after acquiring an additional 27,850 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

GWRS has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Global Water Resources in a report on Wednesday, October 8th. Wall Street Zen lowered Global Water Resources from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Roth Capital set a $15.00 price target on shares of Global Water Resources in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.00.

Get Our Latest Stock Report on GWRS

Global Water Resources Company Profile

(Get Free Report)

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.

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