Consolidated Water Co. Ltd. (NASDAQ:CWCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Year to date shares of Consolidated Water Co. returned higher than the broader industry. The company is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. Consolidated Water Co.’s performance could be adversely impacted by weather variations and risk of contamination of water sources. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”
Separately, TheStreet raised shares of Consolidated Water Co. from a “c+” rating to a “b-” rating in a research report on Monday, April 24th.
Consolidated Water Co. (CWCO) opened at 12.70 on Tuesday. Consolidated Water Co. has a one year low of $9.80 and a one year high of $13.93. The firm has a market capitalization of $189.09 million, a price-to-earnings ratio of 41.64 and a beta of 0.87. The firm’s 50-day moving average is $12.56 and its 200 day moving average is $11.50.
A number of institutional investors have recently made changes to their positions in CWCO. American International Group Inc. raised its position in shares of Consolidated Water Co. by 7.1% in the first quarter. American International Group Inc. now owns 8,953 shares of the utilities provider’s stock worth $104,000 after buying an additional 593 shares during the period. Brandes Investment Partners LP bought a new position in shares of Consolidated Water Co. during the first quarter worth about $124,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Consolidated Water Co. during the first quarter worth about $144,000. Goldman Sachs Group Inc. bought a new position in shares of Consolidated Water Co. during the first quarter worth about $196,000. Finally, Rhumbline Advisers raised its position in shares of Consolidated Water Co. by 4.1% in the second quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock worth $206,000 after buying an additional 660 shares during the period. 50.97% of the stock is currently owned by institutional investors and hedge funds.
Consolidated Water Co. Company Profile
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
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