California Water Service (NYSE:CWT) downgraded to Neutral from Buy, $43 target, at Longbow. The stock closed yesterday at $36.00 on volume of 104,200 shares, above the average daily volume of 85,131.
In the past 52-weeks, shares of California Water Service have traded between a low of $33.81 and a high of $40.65 and are now at $36, which is 6.5% above that low price.
California Water Service is currently above its 50-day moving average (MA) of $35.85 and should find resistance at its 200-day MA of $36.93. In the last five trading sessions, the 50-day MA has fallen 0.53% while the 200-day MA has slid 0.15%.
California Water Service Group is the parent company of several water utility companies. The Company provides regulated and nonregulated water utility services to customers in California, New Mexico, and Washington.