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Theme

Water

Every analyzed stock in Water — 28 companies. Each card shows price, our model's intrinsic value (IV), and how far price sits above or below it. Click any card for the full analysis. This is a research-triage view, not a buy/sell signal.

Water risk
Near-term vs. long-term risk for this theme
⚡ Right now ?Near-term risk over roughly the next 3 months. Blends live market conditions (volatility, how far the S&P is from its highs, credit spreads, the yield curve, sentiment), how stretched valuations are, and what the smart money is doing. Higher = greater odds of a pullback. · next 0–3 months
54 /100 Elevated ▼ -4 mild
Long-term risk ?Long-term / structural risk — the market's underlying tide. Where valuations sit versus 145 years of history (Shiller CAPE) plus multi-year trends. A high reading means weak long-run return prospects even if the market feels calm right now. · structural · vs 145yr history
77 /100 High ◆ flat
▲ / ▼ = change vs ~7 days ago — red = risk rising, green = falling.
Inside the "right now" score — a 45 / 30 / 25 blend · 26 stocks valued
Conditions · 45% ?The live market weather: VIX (expected volatility), how far the S&P 500 is below its 52-week high, high-yield credit spreads, the 10-year vs 2-year yield curve, and the Fear & Greed index. Market-wide indices, not per-stock.
35 Moderate
Valuation · 30% ?How expensive stocks are versus our intrinsic-value models: the median price-to-value ratio and the share of stocks trading above what we think they are worth, across 26 stocks.
74 High
Smart money · 25% ?What informed money is doing: short-selling activity plus corporate insiders buying or selling their own stock. Broken out below.
49 Elevated
Smart money — the three inputs
Short-selling ?Share of ALL US trading volume that is short sales (FINRA, ~12,000 symbols, market-wide). It normally sits near 45–50%, so readings above ~50% lean bearish and read as higher risk. Weighted 40% of Smart money.
50.1%
Elevated
Buyers' strike ?Share of the sampled companies whose insiders bought NONE of their own stock on the open market in the last 12 months. The higher this runs, the more bearish (nobody's buying the dip in their own shares). Weighted 35%.
36%
Moderate
Net insider selling ?Share of the sampled companies whose insiders were net DISCRETIONARY sellers over 12 months (excludes scheduled 10b5-1 plans, which carry little signal). Around half is normal; well above that is bearish. Weighted 25%.
55%
Elevated
Black number = the raw figure; coloured bar & word = how it reads as risk. Insider inputs from 22 stocks (full universe); short-selling is market-wide.
Long-term risk: the long-term read runs high mainly because valuations sit near a historic extreme (Shiller CAPE) — a structural backdrop, not about this week.
Scale (0–100): 0–20 Low · 20–40 Moderate · 40–60 Elevated · 60–80 High · 80–100 Extreme. "Right now" reads today's conditions; the "long-term" score is anchored to ~145 years of valuation history.
Educational use only — not investment advice. "Undervalued / fairly valued / overvalued" and every risk score reflect our models vs. price, which can be wrong or based on stale or incomplete data. Always review the company's own financials and SEC filings, and consult a licensed advisor, before acting.
Sort by: A–Z Riskiest Most overvalued Most shorted Buyers' strike Largest
This week in Water
Water — Sep 7 – Sep 11, 2026 (Wk 37): Water Sector Sees Analyst Upgrades, Infrastructure Spending, and Global Investment Interest →
This week, American Water Works received multiple analyst upgrades and price target increases. Infrastructure upgrades continued in Washington and West Virginia, while global experts highlighted water resources as a key investment theme. The sector's risk score…
AOS
SMITH A O CORP
Undervalued
Consumer Cyclical Risk 37 · Moderate
Price$57.38
Model IV$74.89
P/IV0.76
Discount 23% Return to IV: +30.5%
Market implies +2.2%/yr vs model +7.0% · below model
AQN
ALGONQUIN POWER & UTILITIES CORP.
Deeply overvalued
Utilities Risk 62 · High
Price$5.31
Model IV$4.08
P/IV1.44
Premium +30% Return to IV: -23.2%
ARTNA
ARTESIAN RESOURCES CORP
Undervalued
Utilities Risk 43 · Elevated
Price$35.85
Model IV$39.68
P/IV0.82
Discount 10% Return to IV: +10.7%
AWK
American Water Works Company, Inc.
Overvalued
Utilities Risk 50 · Elevated
Price$138.92
Model IV$112.67
P/IV1.09
Premium +23% Return to IV: -18.9%
AWR
AMERICAN STATES WATER CO
Deeply overvalued
Utilities Risk 57 · Elevated
Price$86.45
Model IV$58.50
P/IV1.48
Premium +48% Return to IV: -32.3%
AWX
AVALON HOLDINGS CORP
Deeply overvalued
Utilities Risk 55 · Elevated
Price$2.66
Model IV$1.38
P/IV1.84
Premium +93% Return to IV: -48.1%
CECO
CECO ENVIRONMENTAL CORP
Deeply overvalued
Industrials Risk 66 · High
Price$78.34
Model IV$36.31
P/IV2.06
Premium +116% Return to IV: -53.7%
Market implies +11.8%/yr vs model +24.3% · below model
CLWT
EURO TECH HOLDINGS CO LTD
Valuation N/A
Industrials Risk 33 · Moderate
Price$1.58
Model IV—
P/IV—
Market implies +37.9%/yr vs model +2.0% · above model
CWCO
Consolidated Water Co. Ltd.
Deeply overvalued
Utilities Risk 53 · Elevated
Price$28.16
Model IV$10.49
P/IV2.88
Premium +168% Return to IV: -62.7%
CWT
CALIFORNIA WATER SERVICE GROUP
Fairly valued
Utilities Risk 51 · Elevated
Price$48.22
Model IV$42.99
P/IV1.05
Premium +12% Return to IV: -10.8%
ECL
ECOLAB INC.
Deeply overvalued
Consumer Defensive Risk 57 · Elevated
Price$275.51
Model IV$146.49
P/IV1.75
Premium +88% Return to IV: -46.8%
Market implies +12.8%/yr vs model +5.7% · above model
ERII
Energy Recovery, Inc.
Deeply overvalued
Industrials Risk 60 · High
Price$7.55
Model IV$2.86
P/IV2.86
Premium +164% Return to IV: -62.2%
Market implies +19.9%/yr vs model +8.5% · above model
FSI
FLEXIBLE SOLUTIONS INTERNATIONAL INC
Deeply overvalued
Basic Materials Risk 60 · High
Price$5.80
Model IV$1.49
P/IV4.47
Premium +290% Return to IV: -74.4%
Market implies +19.6%/yr vs model +3.5% · above model
GRC
GORMAN RUPP CO
Overvalued
Industrials Risk 50 · Elevated
Price$74.47
Model IV$64.18
P/IV1.17
Premium +16% Return to IV: -13.8%
Market implies +11.3%/yr vs model +12.9% · in line
GWRS
Global Water Resources, Inc.
Deeply overvalued
Utilities Risk 64 · High
Price$8.71
Model IV$5.65
P/IV1.29
Premium +54% Return to IV: -35.1%
HTO
H2O AMERICA
Fairly valued
Utilities Risk 42 · Elevated
Price$62.66
Model IV$57.99
P/IV1.00
Premium +8% Return to IV: -7.5%
HWKN
HAWKINS INC
Deeply overvalued
Consumer Defensive Risk 65 · High
Price$121.49
Model IV$66.49
P/IV2.33
Premium +83% Return to IV: -45.3%
Market implies +14.1%/yr vs model +7.6% · above model
IEX
IDEX CORP /DE/
Deeply overvalued
Industrials Risk 53 · Elevated
Price$222.84
Model IV$142.72
P/IV1.48
Premium +56% Return to IV: -36.0%
Market implies +11.1%/yr vs model +5.8% · above model
JCSE
JE Cleantech Holdings Ltd
Deeply undervalued
Consumer Cyclical Risk 27 · Moderate
Price$1.44
Model IV$7.13
P/IV0.19
Discount 80% Return to IV: +395.3%
Market implies -14.5%/yr vs model +13.2% · below model
LIQT
LIQTECH INTERNATIONAL INC
Deeply overvalued
Industrials Risk 50 · Elevated
Price$0.71
Model IV$0.50
P/IV2.19
Premium +42% Return to IV: -29.6%
Market implies -3.5%/yr vs model +2.0% · below model
MSEX
MIDDLESEX WATER CO
Overvalued
Utilities Risk 50 · Elevated
Price$56.69
Model IV$44.36
P/IV1.18
Premium +28% Return to IV: -21.7%
NGL
NGL Energy Partners LP
Deeply overvalued
Utilities Risk 75 · High
Price$17.58
Model IV$11.27
P/IV1.52
Premium +56% Return to IV: -35.9%
PCYO
PURE CYCLE CORP
Deeply overvalued
Utilities Risk 63 · High
Price$11.12
Model IV$4.42
P/IV2.34
Premium +152% Return to IV: -60.3%
PNR
PENTAIR plc
Fairly valued
Industrials Risk 49 · Elevated
Price$56.58
Model IV$57.80
P/IV1.23
Discount 2% Return to IV: +2.2%
Market implies +3.0%/yr vs model +3.6% · in line
SBS
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
Deeply overvalued
Utilities Risk 67 · High
Price$5.29
Model IV$1.58
P/IV3.49
Premium +235% Return to IV: -70.1%
SCWO
374Water Inc.
Valuation N/A
Technology Risk 37 · Moderate
Price$3.24
Model IV—
P/IV—
Market implies +78.4%/yr vs model +45.4% · above model
WTRG
Essential Utilities, Inc.
Fairly valued
Utilities Risk 43 · Elevated
Price$41.61
Model IV$46.23
P/IV0.80
Discount 10% Return to IV: +11.1%
YORW
YORK WATER CO
Fairly valued
Utilities Risk 45 · Elevated
Price$33.17
Model IV$28.29
P/IV1.06
Premium +17% Return to IV: -14.7%