AquaVenture Holdings Ltd (NASDAQ:WAAS)‘s stock had its “buy” rating reissued by analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a $21.00 target price on the stock, down from their previous target price of $24.00. Citigroup Inc.’s price target suggests a potential upside of 61.66% from the company’s previous close.
A number of other research firms have also commented on WAAS. Deutsche Bank AG reaffirmed a “buy” rating and set a $25.00 price target (down from $27.00) on shares of AquaVenture Holdings in a research report on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $23.00 price target (down from $28.00) on shares of AquaVenture Holdings in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of AquaVenture Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $24.40.
AquaVenture Holdings (WAAS) opened at 12.99 on Monday. AquaVenture Holdings has a 12-month low of $12.52 and a 12-month high of $26.33. The stock’s 50 day moving average is $14.10 and its 200 day moving average is $14.10. The company’s market cap is $343.36 million.
AquaVenture Holdings (NASDAQ:WAAS) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.07). The company had revenue of $29.00 million during the quarter, compared to the consensus estimate of $30.91 million. AquaVenture Holdings had a negative net margin of 18.49% and a negative return on equity of 6.11%. AquaVenture Holdings’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that AquaVenture Holdings will post ($0.90) earnings per share for the current year.
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In other news, CEO Douglas R. Brown acquired 14,018 shares of AquaVenture Holdings stock in a transaction on Friday, September 22nd. The shares were purchased at an average cost of $14.36 per share, for a total transaction of $201,298.48. Following the completion of the purchase, the chief executive officer now directly owns 1,484,042 shares of the company’s stock, valued at approximately $21,310,843.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas R. Brown acquired 24,179 shares of AquaVenture Holdings stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $14.66 per share, for a total transaction of $354,464.14. Following the completion of the purchase, the chief executive officer now directly owns 1,452,845 shares of the company’s stock, valued at $21,298,707.70. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in WAAS. Wells Fargo & Company MN grew its stake in AquaVenture Holdings by 271.9% during the first quarter. Wells Fargo & Company MN now owns 9,438 shares of the company’s stock worth $161,000 after buying an additional 6,900 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AquaVenture Holdings by 61.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock worth $173,000 after buying an additional 4,324 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in AquaVenture Holdings during the first quarter worth about $176,000. Rhumbline Advisers acquired a new stake in AquaVenture Holdings during the second quarter worth about $182,000. Finally, New York State Common Retirement Fund grew its stake in AquaVenture Holdings by 93.9% during the second quarter. New York State Common Retirement Fund now owns 12,800 shares of the company’s stock worth $195,000 after buying an additional 6,199 shares in the last quarter.
About AquaVenture Holdings
AquaVenture Holdings Limited is a multinational provider of Water-as-a-Service solutions. The Company’s segments are Seven Seas Water and Quench. The Seven Seas Water segment provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers.
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