Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Shares Gap Down - What's Next?

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $16.41, but opened at $15.02. Companhia de Saneamento Básico do Estado de São Paulo - SABESP shares last traded at $15.27, with a volume of 220,786 shares.

Wall Street Analysts Forecast Growth

SBS has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP to a "strong-buy" rating in a report on Sunday, October 6th. StockNews.com lowered Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a report on Thursday, September 12th.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Price Performance

The firm's 50-day moving average is $16.29 and its 200-day moving average is $15.86. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $10.43 billion, a PE ratio of 6.02 and a beta of 1.16.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 3.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,973 shares of the utilities provider's stock worth $347,000 after buying an additional 770 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 33.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 911 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 4.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 20,537 shares of the utilities provider's stock worth $340,000 after purchasing an additional 956 shares in the last quarter. First Affirmative Financial Network lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 10.6% during the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider's stock valued at $150,000 after purchasing an additional 1,069 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 9.7% in the 3rd quarter. QRG Capital Management Inc. now owns 13,318 shares of the utilities provider's stock worth $220,000 after buying an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company's stock.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Company Profile

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.