Mackenzie Financial Corp Invests $224,000 in AquaVenture Holdings Ltd (NYSE:WAAS)

Mackenzie Financial Corp purchased a new position in shares of AquaVenture Holdings Ltd (NYSE:WAAS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,200 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Electron Capital Partners LLC purchased a new stake in shares of AquaVenture during the first quarter worth about $149,000. Conestoga Capital Advisors LLC grew its holdings in shares of AquaVenture by 52.6% during the second quarter. Conestoga Capital Advisors LLC now owns 15,720 shares of the company’s stock worth $314,000 after buying an additional 5,420 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in AquaVenture by 40.0% in the second quarter. Handelsbanken Fonder AB now owns 700,000 shares of the company’s stock valued at $13,979,000 after purchasing an additional 200,000 shares during the period. River & Mercantile Asset Management LLP purchased a new stake in AquaVenture in the second quarter valued at approximately $1,515,000. Finally, Monarch Partners Asset Management LLC grew its holdings in AquaVenture by 18.7% in the second quarter. Monarch Partners Asset Management LLC now owns 256,349 shares of the company’s stock valued at $5,119,000 after purchasing an additional 40,320 shares during the period. Institutional investors and hedge funds own 30.63% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Roth Capital assumed coverage on shares of AquaVenture in a report on Friday, June 14th. They issued a “buy” rating and a $24.00 target price for the company. ValuEngine upgraded shares of AquaVenture from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada restated a “buy” rating and issued a $23.00 target price on shares of AquaVenture in a report on Sunday, August 11th. Finally, Zacks Investment Research upgraded shares of AquaVenture from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. AquaVenture currently has an average rating of “Buy” and an average target price of $26.86.

AquaVenture stock opened at $18.65 on Friday. AquaVenture Holdings Ltd has a 1 year low of $16.08 and a 1 year high of $23.35. The firm has a 50 day moving average price of $18.55 and a 200 day moving average price of $18.64. The company has a market cap of $591.52 million, a price-to-earnings ratio of -23.91 and a beta of 0.91. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.05 and a current ratio of 2.49.

AquaVenture (NYSE:WAAS) last released its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.11. AquaVenture had a negative net margin of 10.53% and a negative return on equity of 5.55%. The firm had revenue of $51.40 million during the quarter, compared to the consensus estimate of $47.59 million. AquaVenture’s revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. Sell-side analysts predict that AquaVenture Holdings Ltd will post -0.71 EPS for the current year.

AquaVenture 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, wastewater treatment, and water reuse solutions to governmental, municipal, industrial, property developer, and hospitality customers; and point-of-use (POU) filtered water systems and related services to approximately 50,000 institutional and commercial customers.

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Institutional Ownership by Quarter for AquaVenture (NYSE:WAAS)

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