Shares of Alkaline Water Company Inc (OTCMKTS:WTER) shot up 7.9% during mid-day trading on Thursday . The company traded as high as $1.44 and last traded at $1.36. 2,253,874 shares changed hands during trading, an increase of 120% from the average session volume of 1,025,706 shares. The stock had previously closed at $1.26.
A number of research firms have recently issued reports on WTER. Zacks Investment Research upgraded shares of Alkaline Water from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a research report on Friday, August 14th. Canaccord Genuity began coverage on shares of Alkaline Water in a research report on Tuesday, August 18th. They set a “buy” rating and a $3.25 price target for the company. HC Wainwright upgraded shares of Alkaline Water to a “buy” rating and set a $3.00 price target for the company in a research report on Monday, August 17th. Finally, Roth Capital began coverage on shares of Alkaline Water in a research report on Monday, June 8th. They set a “buy” rating and a $3.50 price target for the company.
The company has a 50-day moving average of $1.46 and a 200-day moving average of $1.32.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Alkaline Water by 3.8% during the 1st quarter. BlackRock Inc. now owns 340,329 shares of the company’s stock valued at $204,000 after buying an additional 12,457 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Alkaline Water during the 1st quarter valued at $28,000. Goldman Sachs Group Inc. purchased a new stake in shares of Alkaline Water during the 2nd quarter valued at $71,000. Finally, Virtu Financial LLC purchased a new stake in shares of Alkaline Water during the 2nd quarter valued at $71,000.
About Alkaline Water (OTCMKTS:WTER)
The Alkaline Water Company Inc produces, distributes, and markets bottled alkaline water in the United States. The company offers bottled alkaline water in various volumes under the Alkaline88 trade name. It sells its products through brokers and distributors to retailers, such as convenience stores, natural food products stores, large ethnic markets, and national retailers.
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