Global Water Resources, Inc. (NASDAQ:GWRS) Sees Large Drop in Short Interest

Global Water Resources, Inc. (NASDAQ:GWRS) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 90,900 shares, a decrease of 7.7% from the March 15th total of 98,500 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 25,700 shares, the days-to-cover ratio is currently 3.5 days.

Global Water Resources Stock Performance

GWRS traded up $0.11 during trading on Tuesday, reaching $12.12. 15,553 shares of the company were exchanged, compared to its average volume of 26,009. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.16. Global Water Resources has a 52 week low of $9.34 and a 52 week high of $13.43. The firm has a 50 day moving average of $12.61 and a 200 day moving average of $11.94. The stock has a market cap of $292.94 million, a P/E ratio of 36.73, a PEG ratio of 2.62 and a beta of 0.97.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Global Water Resources had a return on equity of 13.64% and a net margin of 15.05%. The company had revenue of $12.37 million during the quarter, compared to analyst estimates of $12.00 million. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, sell-side analysts forecast that Global Water Resources will post 0.31 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 2.48%. Global Water Resources’s dividend payout ratio (DPR) is presently 90.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG boosted its position in Global Water Resources by 2.6% during the 1st quarter. UBS Group AG now owns 38,307 shares of the utilities provider’s stock worth $476,000 after acquiring an additional 953 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Global Water Resources by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 28,485 shares of the utilities provider’s stock valued at $474,000 after buying an additional 1,123 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Global Water Resources by 160.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,998 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,232 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Global Water Resources by 5.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 25,548 shares of the utilities provider’s stock valued at $249,000 after buying an additional 1,395 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its holdings in shares of Global Water Resources by 47.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock valued at $54,000 after buying an additional 1,477 shares during the period. Institutional investors and hedge funds own 27.91% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.