Analyst Explains Why They Downgraded Their Rating on H2O Innovation (HEOFF)

By Austin Angelo

H2O Innovation (HEOFFResearch Report) received a Hold rating and a C$3.00 price target from Canaccord Genuity analyst Yuri Lynk yesterday. The company’s shares closed last Friday at $2.00, close to its 52-week high of $2.11.

According to TipRanks.com, Lynk is a 4-star analyst with an average return of 10.2% and a 56.6% 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 Moderate Buy analyst consensus rating for H2O Innovation with a $2.16 average price target.

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The company has a one-year high of $2.11 and a one-year low of $0.41. Currently, H2O Innovation has an average volume of 75.48K.

Based on the recent corporate insider activity of 38 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.