Short Interest in Global Water Resources, Inc. (NASDAQ:GWRS) Grows By 55.4%

Global Water Resources, Inc. (NASDAQ:GWRS) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 245,176 shares, a growth of 55.4% from the December 31st total of 157,772 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 64,415 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 64,415 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Mkm set a $15.00 price objective on Global Water Resources in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Water Resources in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Global Water Resources currently has an average rating of “Hold” and a consensus target price of $15.00.

Hedge Funds Weigh In On Global Water Resources

Several large investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Global Water Resources by 6.7% during the third quarter. CWM LLC now owns 14,918 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 932 shares in the last quarter. Redmond Asset Management LLC raised its position 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 during the last quarter. Rhumbline Advisers lifted its stake in Global Water Resources by 12.0% during the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after acquiring an additional 1,884 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Global Water Resources by 16.5% during the 3rd quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 acquiring an additional 2,091 shares during the period. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Stock Down 0.7%

GWRS stock traded down $0.06 during midday trading on Monday, hitting $8.61. The stock had a trading volume of 24,585 shares, compared to its average volume of 54,716. The business has a 50-day moving average of $8.58 and a two-hundred day moving average of $9.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $247.54 million, a price-to-earnings ratio of 53.82 and a beta of 0.96. Global Water Resources has a 52-week low of $8.28 and a 52-week high of $11.84.

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

Global Water Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.0253 per share. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, February 13th. Global Water Resources’s dividend payout ratio (DPR) is 187.50%.

Global Water Resources Company Profile

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.