Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Sees Large Decrease in Short Interest

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 14,515,329 shares, a decrease of 43.9% from the June 30th total of 25,870,594 shares. Based on an average daily volume of 4,998,783 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Several institutional investors have recently bought and sold shares of SBS. Arax Advisory Partners bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter worth $44,000. GAMMA Investing LLC boosted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 430.6% during the second quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 6,769 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,666 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the fourth quarter worth about $54,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SBS shares. Weiss Ratings downgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has an average rating of “Moderate Buy” and an average target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Trading Up 4.1%

SBS traded up $0.21 during trading on Thursday, hitting $5.47. 8,541,490 shares of the stock were exchanged, compared to its average volume of 5,139,816. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.73 and a current ratio of 1.74. The firm has a 50 day simple moving average of $5.62 and a 200 day simple moving average of $83.96. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 4.48 and a beta of 0.66. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 1 year low of $3.79 and a 1 year high of $7.16.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.28 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 16.38% and a net margin of 24.25%. As a group, equities analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 EPS for the current year.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.