ValuEngine Upgrades AquaVenture (WAAS) to Hold

AquaVenture (NYSE:WAAS) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, April 2nd.

Several other research firms have also recently issued reports on WAAS. Royal Bank of Canada reaffirmed a “buy” rating and issued a $18.00 price target on shares of AquaVenture in a report on Friday, March 30th. Zacks Investment Research cut AquaVenture from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. AquaVenture presently has an average rating of “Buy” and an average price target of $20.40.

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NYSE:WAAS traded down $0.04 during midday trading on Monday, hitting $13.77. 80,234 shares of the stock were exchanged, compared to its average volume of 123,262. AquaVenture has a one year low of $10.87 and a one year high of $18.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.12 and a quick ratio of 5.79.

AquaVenture (NYSE:WAAS) last posted its quarterly earnings results on Thursday, March 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.01). The company had revenue of $32.36 million during the quarter, compared to the consensus estimate of $31.58 million. AquaVenture had a negative net margin of 21.29% and a negative return on equity of 7.19%. AquaVenture’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) EPS. research analysts forecast that AquaVenture will post -0.79 EPS for the current fiscal year.

In other news, CEO Douglas R. Brown acquired 50,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were purchased at an average cost of $13.67 per share, for a total transaction of $683,500.00. Following the transaction, the chief executive officer now owns 1,534,042 shares in the company, valued at approximately $20,970,354.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 55.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of AquaVenture by 61.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock valued at $173,000 after purchasing an additional 4,324 shares during the last quarter. Two Sigma Investments LP acquired a new position in AquaVenture during the 4th quarter worth $201,000. Dynamic Technology Lab Private Ltd acquired a new position in AquaVenture during the 3rd quarter worth $260,000. Highbridge Capital Management LLC lifted its position in AquaVenture by 32.6% during the 3rd quarter. Highbridge Capital Management LLC now owns 21,646 shares of the company’s stock worth $292,000 after acquiring an additional 5,325 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in AquaVenture by 39.5% during the 2nd quarter. California State Teachers Retirement System now owns 20,500 shares of the company’s stock worth $312,000 after acquiring an additional 5,800 shares during the last quarter. Institutional investors and hedge funds own 35.76% of the company’s stock.

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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 and wastewater treatment solutions for governmental, municipal, industrial, and hospitality customers; and point-of-use filtered water systems and related services to approximately 40,000 institutional and commercial customers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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