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

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Zacks Investment Research lowered shares of AquaVenture (NYSE:WAAS) from a buy rating to a hold rating in a research note issued 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. “

A number of other analysts have also issued reports on WAAS. TheStreet upgraded AquaVenture from a d rating to a c- rating in a report on Monday, August 20th. B. Riley assumed coverage on AquaVenture in a report on Thursday, May 17th. They issued a buy rating and a $22.00 price target for the company. JMP Securities boosted their price target on AquaVenture from $22.00 to $24.00 and gave the company a buy rating in a report on Thursday, August 9th. ValuEngine upgraded AquaVenture from a hold rating to a buy rating in a report on Thursday, July 5th. Finally, Lake Street Capital assumed coverage on AquaVenture in a report on Friday, August 17th. They issued a buy rating and a $29.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $22.14.

Shares of NYSE:WAAS traded down $0.22 during trading hours on Thursday, hitting $17.17. 1,708 shares of the company’s stock traded hands, compared to its average volume of 70,682. AquaVenture has a 1 year low of $10.87 and a 1 year high of $18.72. The firm has a market capitalization of $451.08 million, a PE ratio of -17.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 6.17 and a quick ratio of 5.74.

AquaVenture (NYSE:WAAS) last announced its earnings results on Wednesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. AquaVenture had a negative return on equity of 7.34% and a negative net margin of 19.75%. The business had revenue of $34.45 million during the quarter, compared to analyst estimates of $32.64 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities research analysts expect that AquaVenture will post -0.83 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of WAAS. Millennium Management LLC raised its stake in AquaVenture by 117.2% in the fourth quarter. Millennium Management LLC now owns 35,261 shares of the company’s stock worth $547,000 after buying an additional 19,025 shares in the last quarter. Trexquant Investment LP bought a new position in AquaVenture in the first quarter worth approximately $374,000. Engineers Gate Manager LP bought a new position in AquaVenture in the first quarter worth approximately $198,000. Gamco Investors INC. ET AL bought a new position in AquaVenture in the first quarter worth approximately $154,000. Finally, Teton Advisors Inc. bought a new position in AquaVenture in the first quarter worth approximately $143,000. 33.77% of the stock is owned by institutional investors.

About AquaVenture

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.

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