Consolidated Water Co. Ltd. (NASDAQ:CWCO) Sees Large Decrease in Short Interest

Consolidated Water Co. Ltd. (NASDAQ:CWCO) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 111,100 shares, a decrease of 12.2% from the September 30th total of 126,600 shares. Based on an average daily volume of 63,300 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.8% of the shares of the stock are short sold.

Several research analysts have recently weighed in on CWCO shares. BidaskClub upgraded Consolidated Water from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. ValuEngine downgraded Consolidated Water from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Janney Montgomery Scott reiterated a “buy” rating on shares of Consolidated Water in a research note on Tuesday, August 13th.

In other news, Director Clarence B. Flowers sold 14,480 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $14.70, for a total value of $212,856.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.79% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in CWCO. Meeder Asset Management Inc. lifted its position in shares of Consolidated Water by 333.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,568 shares of the utilities provider’s stock valued at $74,000 after buying an additional 3,514 shares in the last quarter. Advisory Services Network LLC increased its position in Consolidated Water by 114.2% during the second quarter. Advisory Services Network LLC now owns 5,196 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 2,770 shares during the period. Russell Investments Group Ltd. increased its position in Consolidated Water by 1,173.3% during the third quarter. Russell Investments Group Ltd. now owns 12,733 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 11,733 shares during the period. HighTower Advisors LLC increased its position in Consolidated Water by 15.9% during the second quarter. HighTower Advisors LLC now owns 18,222 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 2,500 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Consolidated Water by 47.0% during the second quarter. Parametric Portfolio Associates LLC now owns 20,295 shares of the utilities provider’s stock worth $289,000 after acquiring an additional 6,492 shares during the period. Institutional investors and hedge funds own 54.45% of the company’s stock.

Shares of CWCO traded up $0.25 during midday trading on Monday, reaching $16.13. 4,011 shares of the stock were exchanged, compared to its average volume of 66,489. The business’s 50-day moving average price is $16.63 and its 200 day moving average price is $14.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.45 and a quick ratio of 12.15. Consolidated Water has a twelve month low of $10.76 and a twelve month high of $17.87. The company has a market capitalization of $238.94 million, a price-to-earnings ratio of 23.66, a PEG ratio of 3.26 and a beta of 0.56.

Consolidated Water (NASDAQ:CWCO) last issued its earnings results on Tuesday, November 12th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $15.89 million for the quarter, compared to analyst estimates of $17.95 million. Consolidated Water had a net margin of 18.56% and a return on equity of 5.66%. As a group, equities research analysts expect that Consolidated Water will post 0.61 earnings per share for the current fiscal year.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems primarily in the Cayman Islands, the Bahamas, Indonesia, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.

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