Zacks Investment Research lowered shares of AquaVenture (NYSE:WAAS) from a hold rating to a sell rating in a research report sent to investors on Saturday.

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. “

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated a buy rating and issued a $19.00 target price on shares of AquaVenture in a research report on Wednesday, October 11th. Citigroup restated a buy rating and issued a $21.00 target price (down from $24.00) on shares of AquaVenture in a research report on Monday, October 9th. ValuEngine upgraded AquaVenture from a sell rating to a hold rating in a research report on Friday, December 1st. Finally, BidaskClub upgraded AquaVenture from a sell rating to a hold rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. AquaVenture has a consensus rating of Buy and an average price target of $22.00.

AquaVenture (WAAS) traded down $0.22 on Friday, reaching $15.86. The company’s stock had a trading volume of 23,685 shares, compared to its average volume of 69,169. The firm has a market capitalization of $419.55 and a P/E ratio of -15.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.94 and a quick ratio of 5.60. AquaVenture has a 12-month low of $10.87 and a 12-month high of $20.96.

AquaVenture (NYSE:WAAS) last released its earnings results on Thursday, November 9th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The firm had revenue of $29.90 million during the quarter, compared to analyst estimates of $30.63 million. AquaVenture had a negative return on equity of 7.38% and a negative net margin of 22.56%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts predict that AquaVenture will post -0.97 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of AquaVenture by 61.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the company’s stock valued at $173,000 after buying an additional 4,324 shares in the last quarter. Rhumbline Advisers bought a new position in shares of AquaVenture in the second quarter valued at $182,000. New York State Common Retirement Fund increased its holdings in shares of AquaVenture by 93.9% in the second quarter. New York State Common Retirement Fund now owns 12,800 shares of the company’s stock valued at $195,000 after buying an additional 6,199 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of AquaVenture by 15.6% in the second quarter. SG Americas Securities LLC now owns 15,475 shares of the company’s stock valued at $236,000 after buying an additional 2,090 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AquaVenture in the third quarter valued at $260,000. 36.78% of the stock is currently owned by institutional investors.

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About AquaVenture

AquaVenture Holdings Limited is a multinational provider of Water-as-a-Service solutions. The Company’s segments are Seven Seas Water and Quench. The Seven Seas Water segment provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers.

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