Shares of Consolidated Water Co. Inc.
shot up 8.2% toward a 15-year high in afternoon trading Wednesday, after the company’s announcement of a desalination contract in Hawaii prompted Janney analyst Michael Gaugler to turn bullish. The company announced late Tuesday that that its indirect subsidiary, Kalaeloa Desalco LLC, entered into a $204 million contract with the Honolulu Board of Water to build, operate and maintain a seawater reverse osmosis desalination plant. The contract has a base term of 24 years.
shot up 8.2% toward a 15-year high in afternoon trading Wednesday, after the company’s announcement of a desalination contract in Hawaii prompted Janney analyst Michael Gaugler to turn bullish. The company announced late Tuesday that that its indirect subsidiary, Kalaeloa Desalco LLC, entered into a $204 million contract with the Honolulu Board of Water to build, operate and maintain a seawater reverse osmosis desalination plant. The contract has a base term of 24 years.