Zacks Investment Research lowered shares of AquaVenture (NYSE:WAAS) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “AquaVenture Holdings LLC is a provider of Water-as-a-Service (TM) solutions. It offers clean drinking and process water. The Company’s operating platform consists of Quench, a U.S.-based provider of Point-of-Use, filtered water systems and related services to institutional and commercial customers and Seven Seas Water, a provider of desalination and wastewater treatment solutions to governmental, municipal, industrial and hospitality customers. AquaVenture Holdings LLC is based in TAMPA, United States. “
WAAS has been the topic of a number of other research reports. ValuEngine upgraded AquaVenture from a sell rating to a hold rating in a report on Monday, April 2nd. Royal Bank of Canada reiterated a buy rating and set a $18.00 price target on shares of AquaVenture in a report on Friday, March 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $20.40.
WAAS stock opened at $13.81 on Friday. AquaVenture has a twelve month low of $10.87 and a twelve month high of $18.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.79 and a current ratio of 6.12. The company has a market capitalization of $358.70, a PE ratio of -14.09 and a beta of 1.23.
AquaVenture (NYSE:WAAS) last posted its earnings results on Thursday, March 1st. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). AquaVenture had a negative net margin of 21.29% and a negative return on equity of 7.19%. The company had revenue of $32.36 million during the quarter, compared to the consensus estimate of $31.58 million. During the same quarter in the prior year, the business earned ($0.28) EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts anticipate that AquaVenture will post -0.79 EPS for the current fiscal year.
In other AquaVenture news, CEO Douglas R. Brown purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were acquired at an average cost of $13.67 per share, for a total transaction of $683,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,534,042 shares of the company’s stock, valued at approximately $20,970,354.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 55.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. DnB Asset Management AS lifted its holdings in AquaVenture by 11.5% during the fourth quarter. DnB Asset Management AS now owns 37,110 shares of the company’s stock worth $576,000 after acquiring an additional 3,830 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in AquaVenture by 61.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock worth $173,000 after acquiring an additional 4,324 shares during the period. Highbridge Capital Management LLC lifted its holdings in AquaVenture by 32.6% during the third quarter. Highbridge Capital Management LLC now owns 21,646 shares of the company’s stock worth $292,000 after acquiring an additional 5,325 shares during the period. California State Teachers Retirement System lifted its holdings in AquaVenture by 39.5% during the second quarter. California State Teachers Retirement System now owns 20,500 shares of the company’s stock worth $312,000 after acquiring an additional 5,800 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in AquaVenture by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 94,196 shares of the company’s stock worth $1,461,000 after acquiring an additional 6,121 shares during the period. Institutional investors and hedge funds own 35.76% of the company’s stock.
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AquaVenture Company Profile
AquaVenture Holdings Limited provides water-as-a-service solutions in North America, the Caribbean, and South America. The company operates in two segments, Seven Seas Water and Quench. It offers desalination and wastewater treatment solutions for governmental, municipal, industrial, and hospitality customers; and point-of-use filtered water systems and related services to approximately 40,000 institutional and commercial customers.
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