Global Water Resources, Inc. (GWRS) Stock Rating Upgraded by Zacks Investment Research

Global Water Resources, Inc. (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Separately, Roth Capital set a $11.00 price objective on shares of Global Water Resources and gave the company a “buy” rating in a research report on Wednesday, August 9th.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Global Water Resources had a net margin of 5.05% and a return on equity of 10.46%. The firm had revenue of $8.15 million for the quarter, compared to the consensus estimate of $7.90 million.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers acquired a new stake in Global Water Resources in the 2nd quarter valued at about $101,000. New York State Common Retirement Fund increased its position in Global Water Resources by 857.5% in the 2nd quarter. New York State Common Retirement Fund now owns 11,500 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 10,299 shares in the last quarter. Bank of America Corp DE increased its position in Global Water Resources by 7.5% in the 1st quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 1,172 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Global Water Resources in the 1st quarter valued at about $171,000. Finally, ELCO Management Co. LLC increased its position in Global Water Resources by 13.0% in the 2nd quarter. ELCO Management Co. LLC now owns 17,659 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 2,034 shares in the last quarter. Hedge funds and other institutional investors own 17.04% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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