Zacks Investment Research Lowers AquaVenture (NYSE:WAAS) to Hold

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Zacks Investment Research cut shares of AquaVenture (NYSE:WAAS) from a buy rating to a hold rating in a research note released on Saturday, Zacks.com reports.

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. “

Several other equities analysts also recently issued reports on the stock. ValuEngine raised shares of XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. Roth Capital set a $12.00 price target on shares of Callon Petroleum and gave the company a buy rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $25.88.

Shares of WAAS stock opened at $17.39 on Friday. AquaVenture has a 12-month low of $15.68 and a 12-month high of $23.35. The company has a market cap of $581.37 million, a P/E ratio of -22.29 and a beta of 0.93. The company’s 50-day moving average price is $18.97. The company has a quick ratio of 2.22, a current ratio of 2.60 and a debt-to-equity ratio of 0.96.

AquaVenture (NYSE:WAAS) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. AquaVenture had a negative net margin of 12.62% and a negative return on equity of 5.98%. The firm had revenue of $46.60 million during the quarter, compared to the consensus estimate of $45.63 million. During the same period last year, the firm posted ($0.24) EPS. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. As a group, equities research analysts predict that AquaVenture will post -0.83 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of AquaVenture by 446.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,268 shares of the company’s stock worth $44,000 after acquiring an additional 1,853 shares during the last quarter. Electron Capital Partners LLC bought a new position in shares of AquaVenture in the first quarter worth about $149,000. Bank of America Corp DE raised its stake in shares of AquaVenture by 62.7% in the fourth quarter. Bank of America Corp DE now owns 8,698 shares of the company’s stock worth $165,000 after acquiring an additional 3,351 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of AquaVenture in the first quarter worth about $199,000. Finally, Rhumbline Advisers raised its stake in shares of AquaVenture by 44.1% in the fourth quarter. Rhumbline Advisers now owns 15,431 shares of the company’s stock worth $291,000 after acquiring an additional 4,719 shares during the last quarter. 35.27% of the stock is owned by hedge funds and other 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, wastewater treatment, and water reuse solutions to governmental, municipal, industrial, property developer, and hospitality customers; and point-of-use (POU) filtered water systems and related services to approximately 50,000 institutional and commercial customers.

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