Global Water Resources (NASDAQ:GWRS) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Shares of Global Water Resources, Inc. (NASDAQ:GWRS) passed 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 trading hands.

Global Water Resources Price Performance

The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47. The stock’s 50 day moving average price is $11.38 and its two-hundred day moving average price is $12.08. The stock has a market cap of $246.14 million, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data 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). The company had revenue of $13.29 million during the quarter, compared to analyst estimates of $12.70 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. Equities research analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.0253 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.30 annualized dividend and a yield of 2.99%. Global Water Resources’s dividend payout ratio is presently 125.00%.

Hedge Funds Weigh In On Global Water Resources

Several large investors have recently made changes to their positions in GWRS. Gitterman Wealth Management LLC acquired a new stake in Global Water Resources during the fourth quarter valued at $123,000. Deutsche Bank AG boosted its stake in shares of Global Water Resources by 4,273.8% during the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 14,659 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Global Water Resources by 7.0% during the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 1,327 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Global Water Resources by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 12,636 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Global Water Resources by 61.8% in the 4th quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 9,370 shares during the period. 27.91% of the stock is currently owned by institutional investors and hedge funds.

About Global Water Resources

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.