Global Water Resources, Inc. (NASDAQ:GWRS) Sees Significant Decrease in Short Interest

Posted by admin on Mar 17th, 2023

Global Water Resources, Inc. (NASDAQ:GWRS – Get Rating) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 67,200 shares, a decrease of 7.6% from the February 13th total of 72,700 shares. Based on an average daily trading volume, of 29,200 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.6% of the company’s shares are short sold.

Global Water Resources Stock Down 0.1 %

Shares of Global Water Resources stock opened at $12.58 on Friday. The business’s fifty day moving average price is $13.74 and its two-hundred day moving average price is $13.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $300.28 million, a P/E ratio of 52.46, a PEG ratio of 3.10 and a beta of 0.73. Global Water Resources has a 1-year low of $10.61 and a 1-year high of $17.35.

Global Water Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.025 per share. This represents a $0.30 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, March 16th. Global Water Resources’s payout ratio is currently 125.00%.

Insider Buying and Selling

In other news, Director Andrew M. Cohn acquired 2,362 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $12.13 per share, for a total transaction of $28,651.06. Following the acquisition, the director now directly owns 2,080,212 shares in the company, valued at approximately $25,232,971.56. The purchase was disclosed in a filing with the SEC, which is available through this link. 45.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Water Resources

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Global Water Resources by 135.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 1,803 shares during the last quarter. BNP Paribas Arbitrage SNC grew its holdings in shares of Global Water Resources by 47.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 1,477 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Global Water Resources by 649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 4,908 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Global Water Resources in the 4th quarter worth $95,000. Finally, Bank of America Corp DE grew its holdings in shares of Global Water Resources by 144.4% in the 4th quarter. Bank of America Corp DE now owns 14,985 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 8,853 shares during the last quarter. 29.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GWRS has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Global Water Resources in a report on Thursday. They set a “hold” rating on the stock. TheStreet raised Global Water Resources from a “c+” rating to a “b-” rating in a report on Thursday, January 19th.

Global Water Resources Company Profile

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Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.