Global Water Resources (NASDAQ:GWRS) Shares Pass Below 50-Day Moving Average – Should You Sell?

Shares of Global Water Resources, Inc. (NASDAQ:GWRS) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.45 and traded as low as $10.16. Global Water Resources shares last traded at $10.20, with a volume of 44,172 shares changing hands.

Global Water Resources Stock Down 4.9 %

The firm has a market cap of $247.11 million, a price-to-earnings ratio of 37.78, a P/E/G ratio of 2.53 and a beta of 1.01. The firm has a 50 day moving average price of $11.45 and a 200-day moving average price of $12.11. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The business had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $12.70 million. On average, equities analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current year.

Global Water Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.0253 per share. This represents a $0.30 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 17th. Global Water Resources’s payout ratio is 125.00%.

Institutional Trading of Global Water Resources

Several institutional investors and hedge funds have recently made changes to their positions in GWRS. Handelsbanken Fonder AB raised its stake in Global Water Resources by 0.7% in the 4th quarter. Handelsbanken Fonder AB now owns 1,370,000 shares of the utilities provider’s stock valued at $15,755,000 after purchasing an additional 10,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Global Water Resources by 3.3% in the third quarter. Geode Capital Management LLC now owns 272,509 shares of the utilities provider’s stock valued at $3,431,000 after buying an additional 8,593 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Global Water Resources by 2.9% during the fourth quarter. Renaissance Technologies LLC now owns 256,552 shares of the utilities provider’s stock valued at $2,950,000 after buying an additional 7,186 shares during the period. State Street Corp boosted its position in Global Water Resources by 0.7% during the third quarter. State Street Corp now owns 220,872 shares of the utilities provider’s stock worth $2,781,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Global Water Resources by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 211,216 shares of the utilities provider’s stock worth $2,429,000 after acquiring an additional 1,130 shares during the period. 27.91% of the stock is currently owned by hedge funds and other 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.