Stock Alert: California Water Service Down 5%
Shares of water utilities company California Water Service Group (CWT) are down 5 percent on Tuesday’s trading despite there being no company announcement to drive down the stock.
In April, the San Jose, California-headquartered company had posted first-quarter net loss of $20.3 million or $0.42 per share, wider than $7.6 million or $0.16 per share in the same period last year.
Quarterly revenues declined to $125.6 million from $126.1 million a year ago.
The stock is currently trading at $2.99, down 5 percent on the NYSE.
CWT has traded between $41.19 and $61.98 during the past 52 weeks.
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