Short Interest in Global Water Resources Inc (NASDAQ:GWRS) Rises By 10.3%

Global Water Resources Inc (NASDAQ:GWRS) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 98,600 shares, a growth of 10.3% from the June 30th total of 89,400 shares. Based on an average daily volume of 35,600 shares, the short-interest ratio is currently 2.8 days. Approximately 1.0% of the company’s shares are sold short.

Several large investors have recently modified their holdings of the company. Spark Investment Management LLC raised its stake in shares of Global Water Resources by 9.3% during the first quarter. Spark Investment Management LLC now owns 14,100 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 1,196 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Global Water Resources by 0.8% during the second quarter. North Star Investment Management Corp. now owns 182,225 shares of the utilities provider’s stock valued at $1,902,000 after acquiring an additional 1,450 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Global Water Resources by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 149,428 shares of the utilities provider’s stock valued at $1,515,000 after acquiring an additional 1,540 shares during the last quarter. Northern Trust Corp raised its stake in shares of Global Water Resources by 1.6% during the second quarter. Northern Trust Corp now owns 110,589 shares of the utilities provider’s stock valued at $1,154,000 after acquiring an additional 1,743 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Global Water Resources by 0.4% during the fourth quarter. BlackRock Inc. now owns 492,978 shares of the utilities provider’s stock valued at $4,999,000 after acquiring an additional 1,836 shares during the last quarter. 28.16% of the stock is owned by hedge funds and other institutional investors.

Global Water Resources stock traded up $0.11 during mid-day trading on Wednesday, hitting $11.37. The company’s stock had a trading volume of 38,500 shares, compared to its average volume of 24,649. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 4.24. The stock has a market cap of $238.59 million and a PE ratio of 75.80. The business has a 50 day moving average of $11.39. Global Water Resources has a 12 month low of $9.00 and a 12 month high of $13.33.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $9.12 million during the quarter, compared to the consensus estimate of $9.30 million. Global Water Resources had a net margin of 5.73% and a return on equity of 6.95%. Equities analysts forecast that Global Water Resources will post 0.15 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.0239 per share. This is an increase from Global Water Resources’s previous dividend of $0.02. The ex-dividend date is Wednesday, August 14th. Global Water Resources’s dividend payout ratio is 193.33%.

Several research firms have weighed in on GWRS. TheStreet raised shares of Global Water Resources from a “c” rating to a “b-” rating in a research note on Thursday, August 8th. BidaskClub downgraded shares of Global Water Resources from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of Global Water Resources from a “buy” rating to a “hold” rating in a research note on Monday.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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