AquaVenture (WAAS) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of AquaVenture (NYSE:WAAS) from a hold rating to a sell rating in a research note released on Wednesday, December 27th.

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. “

Other analysts have also issued reports about the stock. Royal Bank of Canada reiterated a buy rating and issued a $19.00 price target on shares of AquaVenture in a research note on Wednesday, October 11th. Citigroup restated a buy rating and set a $21.00 target price (down from $24.00) on shares of AquaVenture in a research report on Monday, October 9th. ValuEngine upgraded shares of AquaVenture from a sell rating to a hold rating in a research report on Friday, December 1st. Finally, BidaskClub raised shares of AquaVenture from a sell rating to a hold rating in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. AquaVenture presently has a consensus rating of Buy and an average target price of $22.00.

Shares of AquaVenture (WAAS) traded down $0.10 during midday trading on Wednesday, reaching $14.90. 156,451 shares of the company were exchanged, compared to its average volume of 41,127. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.94 and a quick ratio of 5.60. AquaVenture has a one year low of $10.87 and a one year high of $20.67.

AquaVenture (NYSE:WAAS) last released its quarterly earnings data on Thursday, November 9th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). AquaVenture had a negative net margin of 22.56% and a negative return on equity of 7.38%. The firm had revenue of $29.90 million for the quarter, compared to the consensus estimate of $30.63 million. The business’s quarterly revenue was up 3.5% on a year-over-year basis. research analysts forecast that AquaVenture will post -0.97 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in WAAS. Vanguard Group Inc. increased its position in AquaVenture by 95.1% during the first quarter. Vanguard Group Inc. now owns 402,808 shares of the company’s stock valued at $6,876,000 after acquiring an additional 196,300 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AquaVenture by 16.3% in the first quarter. Geode Capital Management LLC now owns 77,711 shares of the company’s stock worth $1,326,000 after purchasing an additional 10,914 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of AquaVenture by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,511 shares of the company’s stock worth $385,000 after purchasing an additional 1,026 shares during the last quarter. First Trust Advisors LP bought a new position in shares of AquaVenture in the second quarter worth about $2,652,000. Finally, Rhumbline Advisers purchased a new stake in AquaVenture in the second quarter worth about $182,000. 36.78% of the stock is currently owned by institutional investors.

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About AquaVenture

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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