Global Water Resources (NASDAQ:GWRS) Shares Cross Below 50-Day Moving Average - Here's What Happened

On Tuesday, shares of Global Water Resources, Inc. (NASDAQ:GWRS) dropped below their 50-day moving average during trading sessions. This significant shift saw the stock, which has a 50-day moving average of $11.45, trading as low as $10.16 before settling at $10.20. The total trading volume for the day reached 44,172 shares.

Global Water Resources Stock Down 4.9%

The company currently has a market capitalization of $247.11 million and a price-to-earnings ratio of 37.78, coupled with a P/E/G ratio of 2.53. Its beta is recorded at 1.01. Additionally, the 200-day moving average for the stock is $12.11. In terms of liquidity, Global Water Resources maintains a current ratio of 1.62 and a quick ratio of 1.63, though it has a relatively high debt-to-equity ratio of 2.47.

In its latest quarterly earnings report released on March 5th, Global Water Resources reported earnings of $0.04 per share (EPS), which was below the consensus estimate of $0.06 by $0.02. The company reported a net margin of 12.52% and a return on equity of 14.23%. For the quarter, the revenue reached $13.29 million, surpassing analysts' predictions of $12.70 million. Market forecasts suggest that Global Water Resources, Inc. is expected to post an EPS of 0.28 for the current year.

Global Water Resources Dividend Announcement

The firm recently declared a monthly dividend of $0.0253 per share, set to be paid on March 31st. To be eligible for this payment, shareholders must be on record by March 17th. This equates to an annualized dividend of $0.30, yielding approximately 2.98%. Notably, Global Water Resources maintains a payout ratio of 125.00%.

Institutional Trading of Global Water Resources

In terms of institutional interest, numerous hedge funds and investors made adjustments to their holdings in GWRS. For example, Handelsbanken Fonder AB increased its shareholding by 0.7% in the fourth quarter, now holding 1,370,000 shares valued at approximately $15,755,000 after acquiring an additional 10,000 shares. Geode Capital Management LLC also raised its position by 3.3% in the third quarter, owning 272,509 shares worth $3,431,000 after buying an extra 8,593 shares. Other significant changes involve Renaissance Technologies LLC, which lifted its stake by 2.9%, while State Street Corp and Wells Fargo & Company MN also slighted increased their holdings. Currently, 27.91% of the stock is owned by institutional investors.

Global Water Resources Company Profile

Global Water Resources, Inc. is a company that specializes in the management of water resources. It operates and manages regulated water, wastewater, and recycled water systems primarily in Arizona's metropolitan areas of Phoenix and Tucson, serving around 82,000 individuals across roughly 32,000 homes. Founded in 2003, the company is based in Phoenix, Arizona.

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