Citigroup Inc. Reaffirms Buy Rating for AquaVenture Holdings Ltd (WAAS)

Citigroup Inc. restated their buy rating on shares of AquaVenture Holdings Ltd (NASDAQ:WAAS) in a research report sent to investors on Monday. The firm currently has a $21.00 target price on the stock, down from their prior target price of $24.00.

Several other analysts have also recently commented on WAAS. Deutsche Bank AG reissued a buy rating and set a $25.00 price target (down from $27.00) on shares of AquaVenture Holdings in a research note on Thursday, August 10th. Canaccord Genuity reaffirmed a buy rating and issued a $23.00 price objective (down from $28.00) on shares of AquaVenture Holdings in a research note on Thursday, August 10th. Finally, BidaskClub cut shares of AquaVenture Holdings from a hold rating to a sell rating in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $23.00.

Shares of AquaVenture Holdings (NASDAQ WAAS) opened at 13.75 on Monday. AquaVenture Holdings has a 52-week low of $12.52 and a 52-week high of $26.33. The firm has a 50-day moving average price of $14.08 and a 200-day moving average price of $14.08. The firm’s market capitalization is $363.45 million.

AquaVenture Holdings (NASDAQ:WAAS) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.07). AquaVenture Holdings had a negative net margin of 18.49% and a negative return on equity of 6.11%. The company had revenue of $29.00 million for the quarter, compared to the consensus estimate of $30.91 million. AquaVenture Holdings’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that AquaVenture Holdings will post ($0.93) EPS for the current year.

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In other AquaVenture Holdings news, CEO Douglas R. Brown acquired 14,018 shares of AquaVenture Holdings stock in a transaction on Friday, September 22nd. The shares were purchased at an average cost of $14.36 per share, with a total value of $201,298.48. Following the completion of the purchase, the chief executive officer now owns 1,484,042 shares in the company, valued at $21,310,843.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas R. Brown acquired 24,179 shares of AquaVenture Holdings stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $14.66 per share, for a total transaction of $354,464.14. Following the completion of the purchase, the chief executive officer now owns 1,452,845 shares of the company’s stock, valued at approximately $21,298,707.70. The disclosure for this purchase can be found here.

A number of hedge funds have recently made changes to their positions in the business. Ardsley Advisory Partners boosted its stake in AquaVenture Holdings by 121.1% in the second quarter. Ardsley Advisory Partners now owns 33,158 shares of the company’s stock valued at $504,000 after acquiring an additional 18,158 shares during the last quarter. Ecofin Ltd. boosted its stake in AquaVenture Holdings by 1.3% in the second quarter. Ecofin Ltd. now owns 1,008,338 shares of the company’s stock valued at $15,357,000 after acquiring an additional 13,192 shares during the last quarter. California State Teachers Retirement System boosted its stake in AquaVenture Holdings by 39.5% in the second quarter. California State Teachers Retirement System now owns 20,500 shares of the company’s stock valued at $312,000 after acquiring an additional 5,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in AquaVenture Holdings in the second quarter valued at approximately $271,000. Finally, The Manufacturers Life Insurance Company boosted its stake in AquaVenture Holdings 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 acquiring an additional 4,324 shares during the last quarter.

About AquaVenture Holdings

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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