AquaVenture (WAAS) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research lowered shares of AquaVenture (NYSE:WAAS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

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 research analysts also recently issued research reports about the company. B. Riley raised their price objective on AquaVenture from $27.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, December 19th. Lake Street Capital raised their price objective on AquaVenture to $34.00 and gave the stock a buy rating in a research note on Wednesday, December 19th. Citigroup set a $26.00 price objective on AquaVenture and gave the stock a buy rating in a research note on Thursday, February 28th. Finally, ValuEngine raised AquaVenture from a buy rating to a strong-buy rating in a research note on Wednesday, March 6th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $25.75.

Shares of NYSE:WAAS opened at $18.99 on Thursday. The stock has a market capitalization of $511.42 million, a price-to-earnings ratio of -24.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.12 and a current ratio of 2.48. AquaVenture has a 52-week low of $11.83 and a 52-week high of $23.35.

AquaVenture (NYSE:WAAS) last announced its earnings results on Wednesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.05). The firm had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $38.72 million. AquaVenture had a negative return on equity of 6.14% and a negative net margin of 14.31%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) earnings per share. As a group, equities analysts anticipate that AquaVenture will post -0.66 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of WAAS. Raymond James & Associates raised its stake in AquaVenture by 1.0% during the 4th quarter. Raymond James & Associates now owns 107,012 shares of the company’s stock valued at $2,021,000 after purchasing an additional 1,034 shares during the period. Teton Advisors Inc. raised its stake in AquaVenture by 16.0% during the 4th quarter. Teton Advisors Inc. now owns 14,500 shares of the company’s stock valued at $274,000 after purchasing an additional 2,000 shares during the period. Nisa Investment Advisors LLC raised its stake in AquaVenture by 42.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,000 shares of the company’s stock valued at $170,000 after purchasing an additional 2,700 shares during the period. Bank of America Corp DE raised its stake in AquaVenture by 62.7% during the 4th quarter. Bank of America Corp DE now owns 8,698 shares of the company’s stock valued at $165,000 after purchasing an additional 3,351 shares during the period. Finally, Rhumbline Advisers raised its stake in AquaVenture by 44.1% during the 4th quarter. Rhumbline Advisers now owns 15,431 shares of the company’s stock valued at $291,000 after purchasing an additional 4,719 shares during the period. 34.04% of the stock is currently owned by hedge funds and other institutional investors.

About AquaVenture

AquaVenture Holdings Ltd. engages in the provision of water purification services. It operates through Seven Seas Water and Quench segments. The Seven Seas Water segment delivers treated bulk water to governmental, municipal, industrial, and hospitality customers. The Quench segment focuses in the rental and servicing of POU water filtration systems and related equipment, such as ice and sparkling water machines, and from the contracted maintenance of customer-owned equipment.

Read More: Net Margin – Understanding the Different Kinds of Profit

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