Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) has risen sharply, recording gains of 10% in the past 4 weeks. However, the stock has corrected -0.56% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.25% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have rallied 61.71% from its 1 Year high price. On Jul 1, 2016, the shares registered one year high at $9.12 and the one year low was seen on Sep 24, 2015. The 50-Day Moving Average price is $8.05 and the 200 Day Moving Average price is recorded at $6.50.
The stock has recorded a 20-day Moving Average of 6.01% and the 50-Day Moving Average is 13.39%.
Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS): stock turned positive on Friday. Though the stock opened at $8.65, the bulls momentum made the stock top out at $8.97 level for the day. The stock recorded a low of $8.585 and closed the trading day at $8.91, in the green by 5.57%. The total traded volume for the day was 1,932,133. The stock had closed at $8.44 in the previous days trading.
Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a mixed capital company. The Company is engaged in the provision of basic and environmental sanitation services in the State of Sao Paulo, as well as it supplies treated water and sewage services on a wholesale basis. The Company operates two segments: water supply and sewage services. It operates water and sewage services in approximately 364 municipalities of the State of Sao Paulo. Most of these municipalities operations are based on 30-year concession, program and services contracts. The Company also provides advisory services on the rational use of water, planning and commercial management, financial and operating issues. The Company is qualified to provide urban rainwater drainage and urban cleaning services, handle solid waste, sell power, perform other services, provide products and obtain benefits and rights that directly or indirectly result from its assets, operations and activities, in Brazil or abroad.