Consolidated Water Co. Ltd. (NASDAQ:CWCO) Short Interest Up 14.3% in August

Consolidated Water Co. Ltd. (NASDAQ:CWCO) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 100,100 shares, a growth of 14.3% from the July 31st total of 87,600 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 42,700 shares, the short-interest ratio is currently 2.3 days.

CWCO has been the subject of a number of recent analyst reports. Janney Montgomery Scott reaffirmed a “buy” rating on shares of Consolidated Water in a report on Tuesday, August 13th. Zacks Investment Research cut shares of Consolidated Water from a “hold” rating to a “sell” rating and set a $15.00 price objective for the company. in a report on Thursday, June 6th.

In other Consolidated Water news, Director Clarence B. Flowers sold 14,480 shares of Consolidated Water stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.79% of the stock is currently owned by insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in CWCO. Penn Capital Management Co. Inc. acquired a new stake in shares of Consolidated Water in the first quarter valued at about $3,079,000. Putnam Investments LLC acquired a new stake in shares of Consolidated Water in the second quarter valued at about $1,742,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Consolidated Water by 10.8% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,162,767 shares of the utilities provider’s stock valued at $101,550,000 after purchasing an additional 113,286 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Consolidated Water in the second quarter valued at about $1,283,000. Finally, Renaissance Technologies LLC grew its position in shares of Consolidated Water by 9.5% in the second quarter. Renaissance Technologies LLC now owns 471,397 shares of the utilities provider’s stock valued at $6,722,000 after purchasing an additional 40,997 shares during the period. Institutional investors and hedge funds own 53.96% of the company’s stock.

CWCO traded down $0.16 on Friday, reaching $15.21. The stock had a trading volume of 51,690 shares, compared to its average volume of 39,909. Consolidated Water has a 12-month low of $10.76 and a 12-month high of $15.48. The company has a current ratio of 12.83, a quick ratio of 12.15 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $14.47 and its two-hundred day moving average price is $13.68. The company has a market cap of $220.00 million, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55.

Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings data on Monday, August 12th. The utilities provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Consolidated Water had a net margin of 21.95% and a return on equity of 6.05%. The firm had revenue of $18.31 million during the quarter, compared to analysts’ expectations of $16.80 million. As a group, analysts predict that Consolidated Water will post 0.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 1st will be given a $0.085 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.34 annualized dividend and a dividend yield of 2.24%. Consolidated Water’s dividend payout ratio (DPR) is 50.00%.

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.

Further Reading: Neutral Rating

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