AquaVenture (WAAS) Given New $34.00 Price Target at Lake Street Capital

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AquaVenture (NYSE:WAAS) had its target price raised by investment analysts at Lake Street Capital to $34.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective would suggest a potential upside of 87.43% from the stock’s previous close.

WAAS has been the subject of a number of other research reports. Royal Bank of Canada lifted their price target on AquaVenture from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, November 5th. Citigroup set a $23.00 price target on AquaVenture and gave the company a “buy” rating in a research report on Monday, November 5th. JMP Securities set a $30.00 price target on AquaVenture and gave the company a “buy” rating in a research report on Thursday, November 8th. B. Riley lifted their price target on AquaVenture from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. Finally, Raymond James cut AquaVenture from a “strong-buy” rating to an “outperform” rating and set a $22.00 price objective on the stock. in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $25.00.

Shares of WAAS traded up $0.27 during trading hours on Wednesday, reaching $18.14. 707 shares of the company’s stock traded hands, compared to its average volume of 63,908. The company has a market cap of $475.81 million, a PE ratio of -18.55 and a beta of 1.08. The company has a current ratio of 5.00, a quick ratio of 4.64 and a debt-to-equity ratio of 0.48. AquaVenture has a 12 month low of $11.83 and a 12 month high of $20.49.

AquaVenture (NYSE:WAAS) last issued its quarterly earnings results on Wednesday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.11. The firm had revenue of $36.80 million during the quarter, compared to the consensus estimate of $34.10 million. AquaVenture had a negative return on equity of 6.03% and a negative net margin of 15.19%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.28) EPS. As a group, analysts predict that AquaVenture will post -0.73 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in WAAS. Handelsbanken Fonder AB increased its stake in AquaVenture by 135.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 450,000 shares of the company’s stock worth $8,132,000 after purchasing an additional 259,018 shares during the period. First Trust Advisors LP purchased a new position in AquaVenture in the 3rd quarter worth approximately $4,421,000. Renaissance Technologies LLC increased its stake in AquaVenture by 61.5% in the 3rd quarter. Renaissance Technologies LLC now owns 373,100 shares of the company’s stock worth $6,742,000 after purchasing an additional 142,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AquaVenture by 176.0% during the third quarter. Dimensional Fund Advisors LP now owns 202,670 shares of the company’s stock valued at $3,662,000 after buying an additional 129,237 shares during the period. Finally, GMT Capital Corp purchased a new position in shares of AquaVenture during the second quarter valued at approximately $1,604,000. 32.98% of the stock is currently owned by institutional investors and hedge funds.

AquaVenture Company Profile

AquaVenture Holdings Limited provides water-as-a-service solutions in North America, the Caribbean, and South America. The company operates in two segments, Seven Seas Water and Quench. It offers desalination and wastewater treatment solutions for governmental, municipal, industrial, and hospitality customers; and point-of-use filtered water systems and related services to approximately 40,000 institutional and commercial customers.

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