Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

Green Impact Partners  / Equity Bottom-Up

<ul><li>The WTR Sustainable Index was up 1.2% W/W versus the S&amp;P 500 Index (down 1.5%), the Russell 2000 Index (up 1.1%) and the Nasdaq Index (down 2.3%).</li><li>Energy Technology (12.5% of the index) was up 0.3%, while Industrial Climate and Ag Technology (46.5% of the index) was up 3.1%, ClimateTech Mining was up 0.5%, and Advanced Transportation Solutions (20.9% of the index) was down 1.7%.</li><li>Top 10 Performers: TMC, EGT, HCNWF, CVW, HLGN, GGR, SX, IPWR, ABML, WAVE</li></ul>

The WTR Sustainable Index was up 1.2% W/W versus the S&amp;P 500 Index (down 1.5%), the Russell 2000 Index (up 1.1%) and the Nasdaq Index (down 2.3%).Energy Technology (12.5% of the index) was up 0.3%, while Industrial Climate and Ag Technology (46.5% of the index) was up 3.1%, ClimateTech Mining was up 0.5%, and Advanced Transportation Solutions (20.9% of the index) was down 1.7%.Top 10 Performers: TMC, EGT, HCNWF, CVW, HLGN, GGR, SX, IPWR, ABML, WAVE

Sustainable Investing Surveyor Focus on Green Impact Partners (GIP)

Thematic (Sector/Industry)

<ul><li>Biopharma lagged as Trump’s pending pharma tariffs loom.</li><li>The 90-day pause in reciprocal tariffs was a short-lived reprieve for biopharma, as Trump later clarified pharma tariffs were not part of the pause.</li><li>After a second unvaccinated child died from measles (three deaths total), RFK Jr. endorsed the vaccine as the most effective way of prevention. </li></ul>

Biopharma lagged as Trump’s pending pharma tariffs loom.The 90-day pause in reciprocal tariffs was a short-lived reprieve for biopharma, as Trump later clarified pharma tariffs were not part of the pause.After a second unvaccinated child died from measles (three deaths total), RFK Jr. endorsed the vaccine as the most effective way of prevention. 

Biopharma Week in Review : Pharma Tariffs Overhang; Worrying Vaccine Comments from RFK Jr.

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>The S&amp;P 500 is deeply oversold by historical standards, but it remains an open question of whether stock prices will decline further after a short-term bounce.</li>
<li>Our estimate of S&amp;P 500 downside is 3900–4500 without a recession, with strong technical support at 4800. Downside risk with a recession is 3300-3800.</li>
<li>Current readings indicate elevated recession risk based on consensus policy expectations, which can change at any time.</li>
</ul>


The S&amp;P 500 is deeply oversold by historical standards, but it remains an open question of whether stock prices will decline further after a short-term bounce.
Our estimate of S&amp;P 500 downside is 3900–4500 without a recession, with strong technical support at 4800. Downside risk with a recession is 3300-3800.
Current readings indicate elevated recession risk based on consensus policy expectations, which can change at any time.


Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Quantitative Analysis

<ul>
<li>The SP500 has enjoyed a prolonged period of outperformance against its international peers.</li>
<li>This year’s political shift and new policy actions could challenge long-held investment assumptions.</li>
<li>We examine the SP500’s performance relative to a range of international indexes and assets.</li>
</ul>


The SP500 has enjoyed a prolonged period of outperformance against its international peers.
This year’s political shift and new policy actions could challenge long-held investment assumptions.
We examine the SP500’s performance relative to a range of international indexes and assets.


USA Against ROW: Trends in Global Market Leadership

Global Water Resources  / Equity Bottom-Up

<ul><li>The WTR Sustainable Index was up 1.7% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).</li><li>Energy Technology (13.7% of the index) was up 1.9%, while Industrial Climate and Ag Technology (47.6% of the index) was up 2.6%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.9% of the index) was up 1.6%.</li><li>Top 10 Performers<strong>:</strong><span style="font-size: var(--content-font-size);"> WML, WWR, LTBR, SMR, MGPHF, BE, PSIX, GTEC, LOOP, WPRT</span></li></ul>

The WTR Sustainable Index was up 1.7% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).Energy Technology (13.7% of the index) was up 1.9%, while Industrial Climate and Ag Technology (47.6% of the index) was up 2.6%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.9% of the index) was up 1.6%.Top 10 Performers: WML, WWR, LTBR, SMR, MGPHF, BE, PSIX, GTEC, LOOP, WPRT

Sustainable Investing Surveyor Focus on Global Water Resources, Inc. (GWRS)

United States

SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF is structured as a Unit Investment Trust and pays dividends on a quarterly basis. The holdings are weighted by market capitalization.

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SPDR S&P 500 (SPY US)

Sustainable Investing Surveyor Focus on Green Impact Partners (GIP)

The WTR Sustainable Index was up 1.2% W/W versus the S&P 500 Index (down 1.5%), the Russell 2000 Index (up 1.1%) and the Nasdaq Index (down 2.3%).

Water Tower Research

Biopharma Week in Review : Pharma Tariffs Overhang; Worrying Vaccine Comments from RFK Jr.

The 90-day pause in reciprocal tariffs was a short-lived reprieve for biopharma, as Trump later clarified pharma tariffs were not part of the pa

Water Tower Research

Estimating Downside Risk

The S&P 500 is deeply oversold by historical standards. Our estimate of S&P 500 downside is 3900–4500 without a recession, with support at 4800....

Cam Hui

USA Against ROW: Trends in Global Market Leadership

The SP500's outperformance may face challenges due to political shifts and new policies, prompting a reevaluation of investment assumptions.

John Ley

Sustainable Investing Surveyor Focus on Global Water Resources, Inc. (GWRS)

The WTR Sustainable Index was up 1.7% W/W versus the S&P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sustainable Investing Surveyor Focus on Green Impact Partners (GIP)

The WTR Sustainable Index was up 1.2% W/W versus the S&P 500 Index (down 1.5%), the Russell 2000 Index (up 1.1%) and the Nasdaq Index (down 2.3%).

Water Tower Research

Biopharma Week in Review : Pharma Tariffs Overhang; Worrying Vaccine Comments from RFK Jr.

The 90-day pause in reciprocal tariffs was a short-lived reprieve for biopharma, as Trump later clarified pharma tariffs were not part of the pa

Water Tower Research

Estimating Downside Risk

The S&P 500 is deeply oversold by historical standards. Our estimate of S&P 500 downside is 3900–4500 without a recession, with support at 4800....

Cam Hui

USA Against ROW: Trends in Global Market Leadership

​The SP500's outperformance may face challenges due to political shifts and new policies, prompting a reevaluation of investment assumptions.

John Ley

Sustainable Investing Surveyor Focus on Global Water Resources, Inc. (GWRS)

The WTR Sustainable Index was up 1.7% W/W versus the S&P 500 Index (up 1.7%), the Russell 2000 Index (up 1.4%) and the Nasdaq Index (up 1.6%).

Water Tower Research

The SP500's outperformance may face challenges due to political shifts and new policies, prompting a reevaluation of investment assumptions.