Canaccord Genuity analyst Yuri Lynk initiated coverage with a Buy rating on H2O Innovation (HEOFF) today and set a price target of C$2.50. The company’s shares closed last Friday at $1.51, close to its 52-week high of $1.62.
According to TipRanks.com, Lynk is a 4-star analyst with an average return of 7.7% and a 56.9% success rate. Lynk covers the Industrial Goods sector, focusing on stocks such as North American Construction Group, Hardwoods Distribution, and Badger Daylighting.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for H2O Innovation with a $1.96 average price target.
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Based on H2O Innovation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $35 million and net profit of $984K. In comparison, last year the company earned revenue of $28.22 million and had a GAAP net loss of $1.03 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HEOFF in relation to earlier this year.
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H2O Innovation, Inc. engages in the design and provision of water treatment solutions based on membrane filtration technology. It operates through the segment: Project and Aftermarket, Specialty Products, and Operation and Maintenance (O&M). The Project and Aftermarket segment comprise of water and wastewater projects and services. The Specialty Products includes a maple equipment and products, specialty chemicals, consumables, and specialized products for the water treatment industry. The O&M segment refers to the services for water and wastewater treatment systems. The company was founded by Frederic Dugre on August 23, 1995 and is headquartered in Quebec, Canada.
