Global Water Resources (NASDAQ:GWRS) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Global Water Resources, Inc. (NASDAQ:GWRS) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.09 and traded as low as $7.04. Global Water Resources shares last traded at $7.07, with a volume of 96,684 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GWRS. Wall Street Zen raised Global Water Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Water Resources in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $15.00.

Global Water Resources Stock Down 3.9%

The firm’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $7.79. The firm has a market capitalization of $203.33 million, a PE ratio of 101.00 and a beta of 0.92. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.59.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. The firm had revenue of $13.29 million for the quarter, compared to the consensus estimate of $14.09 million. As a group, research analysts forecast that Global Water Resources, Inc. will post 0.08 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.0253 per share. The ex-dividend date is Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 4.3%. Global Water Resources’s dividend payout ratio (DPR) is currently 428.57%.

Insider Transactions at Global Water Resources

In other Global Water Resources news, COO Christopher D. Krygier acquired 5,389 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the purchase, the chief operating officer directly owned 10,485 shares in the company, valued at $72,031.95. This trade represents a 105.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Liebman acquired 7,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the completion of the acquisition, the chief financial officer directly owned 7,000 shares in the company, valued at $48,230. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 53.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Water Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. TSP Capital Management Group LLC increased its stake in shares of Global Water Resources by 56.0% in the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 424,438 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Global Water Resources by 21.1% during the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock valued at $6,308,000 after acquiring an additional 144,600 shares during the last quarter. North Star Investment Management Corp. boosted its stake in Global Water Resources by 36.5% during the 1st quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock valued at $3,153,000 after acquiring an additional 111,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Global Water Resources by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 312,753 shares of the utilities provider’s stock worth $2,643,000 after acquiring an additional 10,076 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Global Water Resources by 3.4% during the fourth quarter. State Street Corp now owns 240,100 shares of the utilities provider’s stock worth $2,029,000 after purchasing an additional 7,922 shares during the last quarter. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.