Alkaline Water (OTCMKTS:WTER) Upgraded to Hold at Zacks Investment Research

Alkaline Water (OTCMKTS:WTER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “The Alkaline Water Company Inc. (Alkaline) is a premier bottler of alkaline drinking water, with an 8.8 pH balance. Alkaline employs a state-of-the-art Electrochemically Activated Water (ECA) system to create 8.8 pH drinking water without the use of any extraneous chemicals. The ECA process uses specialized electronic cells coated with a variety of rare earth minerals to produce scientifically engineered water. The Company further incorporate trace Himalayan minerals considered to be the finest in the world suited to a premier beverage. Alkaline88 contains 84 trace Himalayan minerals beneficial to the active consumer. The Company’s stores include convenience stores, natural food products stores, ethnic markets, national retailers and regional grocery chains across the United States. Alkaline is currently in the midst of a national mass-market expansion program, where the product is available for consumer sales. The Company sells all of its products to its retailers through brokers and distributors. “

Separately, HC Wainwright started coverage on shares of Alkaline Water in a research report on Wednesday, November 10th. They set a “buy” rating and a $2.50 target price on the stock.

OTCMKTS WTER opened at $1.13 on Thursday. The company’s fifty day moving average is $1.30 and its two-hundred day moving average is $1.57. Alkaline Water has a 52-week low of $0.96 and a 52-week high of $2.35.

Alkaline Water (OTCMKTS:WTER) last posted its quarterly earnings results on Tuesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $15.26 million during the quarter, compared to analyst estimates of $15.00 million. Alkaline Water had a negative return on equity of 263.88% and a negative net margin of 22.16%.

A number of hedge funds have recently made changes to their positions in the stock. Keebeck Wealth Management LLC raised its stake in shares of Alkaline Water by 48.2% in the second quarter. Keebeck Wealth Management LLC now owns 26,149 shares of the company’s stock worth $40,000 after acquiring an additional 8,500 shares during the last quarter. Round Table Services LLC grew its position in shares of Alkaline Water by 66.7% during the 3rd quarter. Round Table Services LLC now owns 50,000 shares of the company’s stock worth $80,000 after buying an additional 20,000 shares during the period. AM Investment Strategies LLC acquired a new stake in shares of Alkaline Water during the 3rd quarter worth approximately $80,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Alkaline Water during the 3rd quarter worth approximately $32,000. Finally, Davy Global Fund Management Ltd acquired a new stake in shares of Alkaline Water during the 3rd quarter worth approximately $400,000.

Alkaline Water Company Profile

The Alkaline Water Co, Inc engages in the business of distributing, marketing and selling of bottled alkaline water in the Untied States of America. It offers retail consumers bottled alkaline water in 1-gallon, 3-liter, 1.5-liter, 1-liter, 700ml, and 500ml sizes under the trade name Alkaline88. The firm also offers retail consumers flavor infused bottled water in the 500-milliliter size in six flavors: Raspberry, Watermelon, Lemon, Lemon Lime, Peach Mango, and Blood Orange.

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