Consolidated Water Co. Ltd. (CWCO) Downgraded by Zacks Investment Research to “Sell”

Consolidated Water Co. Ltd. (NASDAQ:CWCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Consolidated Water’s shares have gained lower than the industry in the last 12 months. Its earnings per share in the third quarter were lower than the Zacks Consensus Estimate. Hurricane Irma has affected operations of the company’s water treatment plants but its impact was minimal in the reported quarter. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company. Consolidated Water Co. is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition.”

CWCO has been the subject of a number of other reports. TheStreet downgraded Consolidated Water Co. from a “b” rating to a “c+” rating in a research note on Wednesday, November 1st. Roth Capital set a $15.00 target price on Consolidated Water Co. and gave the company a “buy” rating in a research note on Monday.

Shares of Consolidated Water Co. (NASDAQ CWCO) traded up $0.35 during mid-day trading on Tuesday, reaching $11.75. The company’s stock had a trading volume of 58,100 shares, compared to its average volume of 53,568. Consolidated Water Co. has a 12 month low of $9.80 and a 12 month high of $13.50. The firm has a market capitalization of $169.88, a P/E ratio of 20.73, a P/E/G ratio of 2.67 and a beta of 0.87.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Uniplan Investment Counsel Inc. boosted its position in shares of Consolidated Water Co. by 37.5% during the third quarter. Uniplan Investment Counsel Inc. now owns 395,565 shares of the utilities provider’s stock worth $5,063,000 after buying an additional 107,871 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Consolidated Water Co. by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 594,715 shares of the utilities provider’s stock worth $7,612,000 after buying an additional 30,567 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Consolidated Water Co. by 156.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 52,255 shares of the utilities provider’s stock worth $669,000 after buying an additional 31,879 shares during the period. Icon Advisers Inc. Co. boosted its position in shares of Consolidated Water Co. by 39.1% during the third quarter. Icon Advisers Inc. Co. now owns 182,342 shares of the utilities provider’s stock worth $2,334,000 after buying an additional 51,300 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Consolidated Water Co. by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 278,936 shares of the utilities provider’s stock worth $3,568,000 after buying an additional 18,938 shares during the period. Institutional investors and hedge funds own 46.28% of the company’s stock.

About Consolidated Water Co.

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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