AWK Stock Price Analysis Showed Downside Trend Last Week

American Water Works Company, Inc (NYSE: AWK) is an American public utility company engaged in the provision of complementary water and wastewater services. The company has a market cap of nearly $28.37 Billion, and its revenue for last year amounted to $3.79 Billion. However, most of which around $3.50 Billion came from its highest performing source at the moment, Regulated Businesses.

Notably, the greatest contribution to the revenue figure was made by the United States, as last year, it brought American Water Works Company, Inc $3.79 Billion.

The company’s earnings per share (EPS) for Q1 2023 are $0.91, whereas the estimation was $0.93, which accounts for a -1.87% surprise. Its revenue for the same period amounts to $938.00 Million despite the estimated figure of $922.04 Million. The estimated EPS for the next quarter are $1.29, while revenue is expected to reach $1.01 Billion.

Nearly 84% of the shares are held by institutions with Vanguard Group, Inc. (The), Blackrock Inc., and State Street Corporation being the top-3 institutional holders.

AWK Stock Price Analysis

Last Friday, on June 23, AWK stock closed at the price of $145.76 with a decline of nearly 2% in just one day. Meanwhile in the previous 5-days of trading, the stock price showed an almost similar price drop. The opening price was at $148.80, high was at $149.44, and low was at $145.32 on Friday.

As the above price chart shows, AWK share price experienced bear dominance in the previous week, which eventually took the stock price down. However, bulls tried to take the stock price near its 200-day EMA, which then dropped down. The RSI further tried to follow an upside down track, then slid down.

Analysts have set a one year price target for AWK stock at $160.44, nearly 10% from last week’s closing price. Moreover, their maximum estimate is at $185.00, while minimum estimate is at $140.00.

In the previous week, AWK share price had accumulated bulls which held its price above the 50-day moving average. But, the majority of bears in the market showed their dominance and pulled-down the stock price. Notably, when the company released its Q1 2023 report in late April, AWK share price traded above the price range of $145.00. Meanwhile, after the Q1 result, the share price reached the trading price range of nearly $150.00.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing