Short Interest in Global Water Resources, Inc. (NASDAQ:GWRS) Increases By 10.5%

Global Water Resources, Inc. (NASDAQ:GWRS) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 103,800 shares, a growth of 10.5% from the August 31st total of 93,900 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 26,800 shares, the short-interest ratio is currently 3.9 days.

Global Water Resources Stock Performance

GWRS traded down $0.11 during midday trading on Tuesday, reaching $12.48. The company’s stock had a trading volume of 7,932 shares, compared to its average volume of 24,420. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.53. The company has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $12.49. The stock has a market cap of $301.72 million, a P/E ratio of 47.92, a PEG ratio of 3.18 and a beta of 0.97. Global Water Resources has a twelve month low of $9.34 and a twelve month high of $13.42.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Global Water Resources had a net margin of 11.91% and a return on equity of 13.45%. The company had revenue of $13.51 million during the quarter, compared to the consensus estimate of $13.60 million. During the same period last year, the company earned $0.07 earnings per share. Research analysts expect that Global Water Resources will post 0.27 earnings per share for the current year.

Global Water Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a $0.025 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.30 annualized dividend and a yield of 2.40%. Global Water Resources’s dividend payout ratio (DPR) is currently 115.38%.

Institutional Investors Weigh In On Global Water Resources

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of Global Water Resources by 2.6% in the second quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock valued at $2,909,000 after buying an additional 6,000 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Global Water Resources in the 2nd quarter worth $857,000. Panagora Asset Management Inc. increased its holdings in shares of Global Water Resources by 9.1% in the second quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 8,033 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Global Water Resources by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock valued at $8,709,000 after purchasing an additional 8,960 shares during the period. Finally, North Star Investment Management Corp. increased its stake in Global Water Resources by 15.8% during the 1st quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock worth $3,016,000 after purchasing an additional 32,100 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors.

Global Water Resources Company Profile

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.