AquaVenture Holdings Ltd. (WAAS) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of AquaVenture Holdings Ltd. (NYSE:WAAS) from a sell rating to a hold rating in a research note released on Wednesday.
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 subject of several other research reports. Citigroup Inc. restated a buy rating and issued a $21.00 price objective (down previously from $24.00) on shares of AquaVenture Holdings in a research report on Monday, October 9th. BidaskClub cut shares of AquaVenture Holdings from a sell rating to a strong sell rating in a research report on Thursday, September 28th. Royal Bank Of Canada restated a buy rating and issued a $19.00 price objective on shares of AquaVenture Holdings in a research report on Wednesday, October 11th. Canaccord Genuity restated a buy rating and issued a $23.00 price objective (down previously from $28.00) on shares of AquaVenture Holdings in a research report on Thursday, August 10th. Finally, Deutsche Bank AG restated a buy rating and issued a $25.00 price objective (down previously from $27.00) on shares of AquaVenture Holdings in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $22.00.
Shares of AquaVenture Holdings (NYSE:WAAS) traded down $0.02 during mid-day trading on Wednesday, reaching $14.43. 81,600 shares of the company traded hands, compared to its average volume of 114,955. AquaVenture Holdings has a 12-month low of $10.87 and a 12-month high of $26.33. The company has a quick ratio of 3.73, a current ratio of 3.95 and a debt-to-equity ratio of 0.34.
AquaVenture Holdings (NYSE:WAAS) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.06). AquaVenture Holdings had a negative net margin of 22.56% and a negative return on equity of 7.34%. The firm had revenue of $29.90 million for the quarter, compared to the consensus estimate of $30.63 million. AquaVenture Holdings’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts expect that AquaVenture Holdings will post -0.97 EPS for the current fiscal year.
In other AquaVenture Holdings news, CEO Douglas R. Brown purchased 14,018 shares of the stock in a transaction dated Friday, September 22nd. The stock was bought at an average price of $14.36 per share, for a total transaction of $201,298.48. Following the transaction, the chief executive officer now directly owns 1,484,042 shares in the company, valued at $21,310,843.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 55.90% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of AquaVenture Holdings by 271.9% during the 1st quarter. Wells Fargo & Company MN now owns 9,438 shares of the company’s stock worth $161,000 after buying an additional 6,900 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of AquaVenture Holdings by 61.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock worth $173,000 after buying an additional 4,324 shares during the period. Rhumbline Advisers acquired a new stake in shares of AquaVenture Holdings during the 2nd quarter worth approximately $182,000. New York State Common Retirement Fund grew its position in shares of AquaVenture Holdings by 93.9% during the 2nd quarter. New York State Common Retirement Fund now owns 12,800 shares of the company’s stock worth $195,000 after buying an additional 6,199 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of AquaVenture Holdings by 15.6% during the 2nd quarter. SG Americas Securities LLC now owns 15,475 shares of the company’s stock worth $236,000 after buying an additional 2,090 shares during the period. Institutional investors own 37.90% of the company’s stock.
AquaVenture Holdings Company Profile
AquaVenture Holdings Limited is a multinational provider of Water-as-a-Service solutions. The Company’s segments are Seven Seas Water and Quench. The Seven Seas Water segment provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers.
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