Alkaline Water (OTCMKTS:WTER) Cut to “Sell” at Zacks Investment Research

Alkaline Water (OTCMKTS:WTER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “The Alkaline Water Company Inc. (Alkaline) is a premier bottler of alkaline drinking water, with an 8.8 pH balance. Alkaline employs a state-of-the-art Electrochemically Activated Water (ECA) system to create 8.8 pH drinking water without the use of any extraneous chemicals. The ECA process uses specialized electronic cells coated with a variety of rare earth minerals to produce scientifically engineered water. The Company further incorporate trace Himalayan minerals considered to be the finest in the world suited to a premier beverage. Alkaline88 contains 84 trace Himalayan minerals beneficial to the active consumer. The Company’s stores include convenience stores, natural food products stores, ethnic markets, national retailers and regional grocery chains across the United States. Alkaline is currently in the midst of a national mass-market expansion program, where the product is available for consumer sales. The Company sells all of its products to its retailers through brokers and distributors. “

Separately, HC Wainwright assumed coverage on Alkaline Water in a report on Wednesday, November 10th. They set a “buy” rating and a $2.50 target price on the stock.

OTCMKTS WTER opened at $1.33 on Wednesday. The stock has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.58. Alkaline Water has a 12 month low of $0.93 and a 12 month high of $2.35.

Alkaline Water (OTCMKTS:WTER) last posted its earnings results on Tuesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Alkaline Water had a negative net margin of 22.16% and a negative return on equity of 263.88%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC acquired a new stake in shares of Alkaline Water in the 1st quarter valued at $26,000. Wilbanks Smith & Thomas Asset Management LLC bought a new position in Alkaline Water during the 3rd quarter worth $32,000. Stifel Financial Corp raised its position in shares of Alkaline Water by 122.1% in the 1st quarter. Stifel Financial Corp now owns 34,100 shares of the company’s stock worth $37,000 after acquiring an additional 18,750 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Alkaline Water in the 3rd quarter worth about $38,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Alkaline Water by 339.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 25,896 shares of the company’s stock worth $39,000 after acquiring an additional 20,000 shares in the last quarter.

Alkaline Water Company Profile

The Alkaline Water Co, Inc engages in the business of distributing, marketing and selling of bottled alkaline water in the Untied States of America. It offers retail consumers bottled alkaline water in 1-gallon, 3-liter, 1.5-liter, 1-liter, 700ml, and 500ml sizes under the trade name Alkaline88. The firm also offers retail consumers flavor infused bottled water in the 500-milliliter size in six flavors: Raspberry, Watermelon, Lemon, Lemon Lime, Peach Mango, and Blood Orange.

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