AquaVenture (WAAS) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of AquaVenture (NYSE:WAAS) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. The brokerage currently has $21.00 target price on the stock.

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 subject of a number of other reports. ValuEngine raised shares of AquaVenture from a buy rating to a strong-buy rating in a report on Wednesday, March 6th. Citigroup set a $26.00 target price on shares of AquaVenture and gave the company a buy rating in a report on Thursday, February 28th. Lake Street Capital increased their target price on shares of AquaVenture to $34.00 and gave the company a buy rating in a report on Wednesday, December 19th. Finally, B. Riley increased their target price on shares of AquaVenture from $27.00 to $28.00 and gave the company a buy rating in a report on Wednesday, December 19th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $25.75.

NYSE WAAS opened at $19.14 on Friday. The stock has a market cap of $512.77 million, a P/E ratio of -24.54 and a beta of 0.78. AquaVenture has a 52-week low of $13.43 and a 52-week high of $23.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.48 and a quick ratio of 2.12.

AquaVenture (NYSE:WAAS) last issued its earnings results on Wednesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.05). AquaVenture had a negative net margin of 14.31% and a negative return on equity of 6.14%. The company had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $38.72 million. During the same period last year, the business posted ($0.25) earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, sell-side analysts predict that AquaVenture will post -0.66 EPS for the current fiscal year.

In other AquaVenture news, Director Evan Lovell sold 5,203 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $19.01, for a total value of $98,909.03. Following the completion of the transaction, the director now directly owns 7,617 shares of the company’s stock, valued at $144,799.17. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 57.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WAAS. Bank of America Corp DE grew its position in shares of AquaVenture by 62.7% in the fourth quarter. Bank of America Corp DE now owns 8,698 shares of the company’s stock valued at $165,000 after purchasing an additional 3,351 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of AquaVenture by 42.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,000 shares of the company’s stock valued at $170,000 after purchasing an additional 2,700 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of AquaVenture in the fourth quarter valued at approximately $218,000. Teton Advisors Inc. grew its position in shares of AquaVenture by 16.0% in the fourth quarter. Teton Advisors Inc. now owns 14,500 shares of the company’s stock valued at $274,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of AquaVenture by 44.1% in the fourth quarter. Rhumbline Advisers now owns 15,431 shares of the company’s stock valued at $291,000 after purchasing an additional 4,719 shares during the last quarter. Institutional investors and hedge funds own 34.04% of the company’s stock.

About AquaVenture

AquaVenture Holdings Ltd. engages in the provision of water purification services. It operates through Seven Seas Water and Quench segments. The Seven Seas Water segment delivers treated bulk water to governmental, municipal, industrial, and hospitality customers. The Quench segment focuses in the rental and servicing of POU water filtration systems and related equipment, such as ice and sparkling water machines, and from the contracted maintenance of customer-owned equipment.

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