Zacks Investment Research Lowers AquaVenture (WAAS) to Sell

Zacks Investment Research cut shares of AquaVenture (NYSE:WAAS) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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. “

WAAS has been the topic of a number of other reports. BidaskClub upgraded shares of AquaVenture from a sell rating to a hold rating in a research note on Wednesday, November 15th. Royal Bank of Canada restated a buy rating and set a $19.00 target price on shares of AquaVenture in a research note on Wednesday, October 11th. ValuEngine upgraded shares of AquaVenture from a sell rating to a hold rating in a research note on Friday, December 1st. Finally, Citigroup restated a buy rating and set a $21.00 target price (down from $24.00) on shares of AquaVenture in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $22.00.

Shares of AquaVenture (WAAS) opened at $15.03 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.60 and a current ratio of 5.94. AquaVenture has a one year low of $10.87 and a one year high of $20.67. The firm has a market cap of $397.59 and a P/E ratio of -14.88.

AquaVenture (NYSE:WAAS) last released its earnings results on Thursday, November 9th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.06). AquaVenture had a negative return on equity of 7.38% and a negative net margin of 22.56%. The firm had revenue of $29.90 million for the quarter, compared to analysts’ expectations of $30.63 million. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts predict that AquaVenture will post -0.97 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in AquaVenture by 37.7% in the second quarter. Northern Trust Corp now owns 123,470 shares of the company’s stock valued at $1,880,000 after purchasing an additional 33,824 shares in the last quarter. Ardsley Advisory Partners boosted its holdings in AquaVenture by 121.1% in the second quarter. Ardsley Advisory Partners now owns 33,158 shares of the company’s stock valued at $504,000 after purchasing an additional 18,158 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AquaVenture by 44.5% in the second quarter. Bank of New York Mellon Corp now owns 43,290 shares of the company’s stock valued at $659,000 after purchasing an additional 13,326 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AquaVenture by 21.4% in the second quarter. Vanguard Group Inc. now owns 488,928 shares of the company’s stock valued at $7,446,000 after purchasing an additional 86,120 shares in the last quarter. Finally, FMR LLC boosted its holdings in AquaVenture by 9.7% in the second quarter. FMR LLC now owns 1,596,853 shares of the company’s stock valued at $24,321,000 after purchasing an additional 140,650 shares in the last quarter. 36.78% of the stock is owned by hedge funds and other institutional investors.

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AquaVenture Company Profile

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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