Slides on disappointing quarter, annual outlook

Alkaline Water

17/11/2020 13:14

** Alkaline water producer's shares  WTER.O  tumble 19.5% to
$1.07 premarket 
    ** Stock set to open at its lowest since May 27; on track
for worst session in 8 months, if losses hold
    ** Co posts wider Q2 loss of $0.06/shr compared with
Refinitiv estimates of loss of $0.03/shr; revenue of $10.8 mln
also misses expectations of $14.5 mln, as distributors reduced
deliveries and cleared excess inventory built in prior qtr
 urn:newsml:reuters.com:*:nASA01ESY  urn:newsml:reuters.com:*:nBw65HLsha
    ** WTER also forecast lower-than-expected 2021 revenue of
$48 mln-$52 mln, compared with estimates of $58.4 mln -
Refinitiv data
    ** H.C. Wainwright cuts PT to $2.50 from $3, while Canaccord
Genuity cuts PT by $2.15 to $1.10     
    ** As of last close, stock up 4.7% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))