Aris Water Solutions (NYSE:ARIS) Shares Gap Down to $13.24

Posted by Defense World Staff on Mar 9th, 2023

Shares of Aris Water Solutions, Inc. (NYSE:ARIS – Get Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $13.24, but opened at $12.18. Aris Water Solutions shares last traded at $10.35, with a volume of 219,666 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Aris Water Solutions from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup assumed coverage on shares of Aris Water Solutions in a research note on Thursday, December 8th. They set a “buy” rating and a $20.00 target price on the stock. Barclays increased their target price on shares of Aris Water Solutions from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Finally, Wells Fargo & Company reduced their price target on shares of Aris Water Solutions from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Aris Water Solutions Stock Performance

The company has a market cap of $627.14 million, a price-to-earnings ratio of 1,094.00 and a beta of 2.04. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $14.54 and its 200 day simple moving average is $14.87.

Aris Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Friday, March 17th will be issued a $0.09 dividend. The ex-dividend date is Thursday, March 16th. This represents a $0.36 dividend on an annualized basis and a yield of 3.29%. Aris Water Solutions’s payout ratio is 3,600.00%.

Institutional Trading of Aris Water Solutions

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in Aris Water Solutions by 23.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,614,942 shares of the company’s stock valued at $52,092,000 after acquiring an additional 686,500 shares during the last quarter. Federated Hermes Inc. raised its holdings in Aris Water Solutions by 34.5% in the 3rd quarter. Federated Hermes Inc. now owns 2,535,000 shares of the company’s stock valued at $32,347,000 after acquiring an additional 650,000 shares during the last quarter. Wellington Management Group LLP raised its holdings in Aris Water Solutions by 7.1% in the 1st quarter. Wellington Management Group LLP now owns 1,985,850 shares of the company’s stock valued at $36,143,000 after acquiring an additional 130,869 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Aris Water Solutions by 27.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,298,335 shares of the company’s stock worth $16,566,000 after buying an additional 279,384 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in shares of Aris Water Solutions by 6.5% during the 4th quarter. Copeland Capital Management LLC now owns 1,205,156 shares of the company’s stock worth $17,366,000 after buying an additional 73,319 shares during the last quarter. Institutional investors and hedge funds own 39.50% of the company’s stock.

About Aris Water Solutions

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Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.