Consolidated Water Co. Ltd. (NASDAQ:CWCO) Sees Significant Increase in Short Interest

Consolidated Water Co. Ltd. (NASDAQ:CWCO) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 635,600 shares, a growth of 9.2% from the May 31st total of 582,300 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily volume of 153,100 shares, the short-interest ratio is presently 4.2 days.

Insider Activity

In related news, Director Clarence B. Flowers sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $25.04, for a total transaction of $67,608.00. Following the transaction, the director now directly owns 300,500 shares of the company’s stock, valued at approximately $7,524,520. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.87% of the company’s stock.

Hedge Funds Weigh In On Consolidated Water

Several hedge funds have recently modified their holdings of CWCO. Legato Capital Management LLC purchased a new stake in shares of Consolidated Water during the fourth quarter valued at approximately $2,766,000. Navellier & Associates Inc. increased its position in shares of Consolidated Water by 84.0% during the 4th quarter. Navellier & Associates Inc. now owns 78,002 shares of the utilities provider’s stock valued at $2,777,000 after purchasing an additional 35,604 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Consolidated Water during the 4th quarter worth $629,000. New York State Common Retirement Fund raised its stake in shares of Consolidated Water by 124.9% during the 4th quarter. New York State Common Retirement Fund now owns 127,408 shares of the utilities provider’s stock worth $4,536,000 after purchasing an additional 70,761 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Consolidated Water during the fourth quarter valued at about $143,000. Institutional investors own 55.16% of the company’s stock.

Consolidated Water Stock Performance

CWCO stock opened at $24.54 on Thursday. Consolidated Water has a twelve month low of $19.07 and a twelve month high of $38.29. The stock’s 50 day moving average is $26.50 and its 200-day moving average is $28.90.

Consolidated Water (NASDAQ:CWCO) last issued its quarterly earnings data on Wednesday, May 15th. The utilities provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Consolidated Water had a return on equity of 18.02% and a net margin of 17.24%. The business had revenue of $39.69 million for the quarter, compared to analysts’ expectations of $38.65 million. As a group, equities analysts predict that Consolidated Water will post 1.33 EPS for the current fiscal year.

Consolidated Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 1st will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.55%. The ex-dividend date is Monday, July 1st.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Consolidated Water from a “buy” rating to a “hold” rating in a research report on Friday, May 10th.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.