Alkaline Water (OTCMKTS:WTER) Stock Rating Lowered by Zacks Investment Research

Alkaline Water (OTCMKTS:WTER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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 initiated coverage on shares of Alkaline Water in a research note on Wednesday, November 10th. They set a “buy” rating and a $2.50 price objective for the company.

OTCMKTS:WTER opened at $1.33 on Wednesday. The firm’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.58. Alkaline Water has a 1-year low of $0.93 and a 1-year high of $2.35.

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

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Alkaline Water by 30.4% during the 1st quarter. Geode Capital Management LLC now owns 484,401 shares of the company’s stock worth $527,000 after acquiring an additional 112,837 shares during the period. Northern Trust Corp raised its stake in shares of Alkaline Water by 25.6% in the 1st quarter. Northern Trust Corp now owns 121,776 shares of the company’s stock valued at $133,000 after acquiring an additional 24,818 shares in the last quarter. Barclays PLC bought a new position in shares of Alkaline Water in the 1st quarter valued at approximately $26,000. Stifel Financial Corp raised its stake 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 valued at $37,000 after acquiring an additional 18,750 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Alkaline Water in the 1st quarter valued at approximately $60,000.

About Alkaline Water

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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