Canaccord Genuity Begins Coverage on Alkaline Water (OTCMKTS:WTER)

Share on StockTwits

Canaccord Genuity assumed coverage on shares of Alkaline Water (OTCMKTS:WTER) in a report released on Tuesday, The Fly reports. The brokerage issued a buy rating and a $3.25 price objective on the stock.

Several other analysts have also weighed in on the company. Roth Capital assumed coverage on Alkaline Water in a report on Monday, June 8th. They set a buy rating and a $3.50 price objective on the stock. HC Wainwright raised Alkaline Water to a buy rating and set a $3.00 price target on the stock in a research note on Monday. Finally, Zacks Investment Research raised Alkaline Water from a hold rating to a buy rating and set a $1.75 price target on the stock in a research note on Friday, August 14th.

Shares of OTCMKTS WTER opened at $1.68 on Tuesday. The business’s 50 day moving average is $1.99 and its two-hundred day moving average is $1.26. Alkaline Water has a 12 month low of $0.40 and a 12 month high of $2.80.

Alkaline Water (OTCMKTS:WTER) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Alkaline Water had a negative return on equity of 263.88% and a negative net margin of 22.16%.

Several hedge funds have recently added to or reduced their stakes in WTER. Bank of New York Mellon Corp bought a new stake in shares of Alkaline Water during the first quarter worth $28,000. Goldman Sachs Group Inc. bought a new stake in shares of Alkaline Water during the second quarter worth $71,000. Virtu Financial LLC bought a new stake in shares of Alkaline Water during the second quarter worth $71,000. Finally, BlackRock Inc. raised its position in shares of Alkaline Water by 3.8% during the first quarter. BlackRock Inc. now owns 340,329 shares of the company’s stock worth $204,000 after acquiring an additional 12,457 shares during the last quarter.

Alkaline Water Company Profile

The Alkaline Water Company Inc produces, distributes, and markets bottled alkaline water in the United States. The company offers bottled alkaline water in various volumes under the Alkaline88 trade name. It sells its products through brokers and distributors to retailers, such as convenience stores, natural food products stores, large ethnic markets, and national retailers.

See Also: How Do You Calculate Return on Investment (ROI)?

The Fly

Receive News & Ratings for Alkaline Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkaline Water and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply