Select Water Solutions (NYSE:WTTR) Coverage Initiated at Piper Sandler

Research analysts at Piper Sandler assumed coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “overweight” rating and a $15.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 62.13% from the company’s current price.

A number of other research firms also recently commented on WTTR. Citigroup reduced their price objective on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Raymond James Financial dropped their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $14.88.

Select Water Solutions Price Performance

Shares of NYSE WTTR opened at $9.25 on Tuesday. The firm has a market cap of $1.11 billion, a PE ratio of 27.21 and a beta of 1.20. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. Select Water Solutions has a 1-year low of $7.20 and a 1-year high of $15.14. The company has a fifty day moving average price of $8.79 and a 200 day moving average price of $10.32.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. Research analysts predict that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after purchasing an additional 1,525 shares during the period. State of Wyoming increased its holdings in shares of Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company’s stock worth $62,000 after purchasing an additional 1,509 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Select Water Solutions during the first quarter worth approximately $113,000. Finally, Amundi increased its holdings in shares of Select Water Solutions by 83.8% during the fourth quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after purchasing an additional 4,109 shares during the period. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.