AquaVenture Holdings Ltd (WAAS) Rating Reiterated by Citigroup Inc.

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.

Analyst Recommendations for AquaVenture Holdings (NASDAQ:WAAS)

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