AquaVenture Holdings Ltd (NYSE:WAAS) Sees Large Growth in Short Interest

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AquaVenture Holdings Ltd (NYSE:WAAS) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 1,236,500 shares, a growth of 14.5% from the May 30th total of 1,079,800 shares. Based on an average trading volume of 82,200 shares, the short-interest ratio is currently 15.0 days. Approximately 10.3% of the company’s stock are short sold.

Several research analysts have recently issued reports on WAAS shares. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Saturday, April 27th. Roth Capital set a $12.00 target price on shares of Callon Petroleum and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.88.

A number of institutional investors have recently modified their holdings of WAAS. Handelsbanken Fonder AB lifted its position in AquaVenture by 40.0% during the second quarter. Handelsbanken Fonder AB now owns 700,000 shares of the company’s stock valued at $13,979,000 after purchasing an additional 200,000 shares during the period. ClariVest Asset Management LLC bought a new position in AquaVenture during the first quarter valued at approximately $2,096,000. Dimensional Fund Advisors LP lifted its position in AquaVenture by 33.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 270,353 shares of the company’s stock valued at $5,107,000 after purchasing an additional 67,683 shares during the period. BlackRock Inc. lifted its position in AquaVenture by 13.9% during the fourth quarter. BlackRock Inc. now owns 511,804 shares of the company’s stock valued at $9,668,000 after purchasing an additional 62,320 shares during the period. Finally, Manchester Capital Management LLC bought a new position in AquaVenture during the first quarter valued at approximately $857,000. Institutional investors own 34.51% of the company’s stock.

AquaVenture stock traded up $0.08 during midday trading on Monday, reaching $18.33. 2,180 shares of the company traded hands, compared to its average volume of 309,792. The stock has a market cap of $492.57 million, a price-to-earnings ratio of -23.53 and a beta of 0.93. The company’s 50 day simple moving average is $18.87. AquaVenture has a 12 month low of $15.30 and a 12 month high of $23.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.60 and a quick ratio of 2.22.

AquaVenture (NYSE:WAAS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The company had revenue of $46.60 million for the quarter, compared to the consensus estimate of $45.63 million. AquaVenture had a negative net margin of 12.62% and a negative return on equity of 5.98%. The firm’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Sell-side analysts forecast that AquaVenture will post -0.73 earnings per share for the current fiscal year.

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, wastewater treatment, and water reuse solutions to governmental, municipal, industrial, property developer, and hospitality customers; and point-of-use (POU) filtered water systems and related services to approximately 50,000 institutional and commercial customers.

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