What's Happening: Water Asset Management is conducting a proxy fight to fix the size of the board at six directors and elect five WAM nominees. WAM believes that the company has been poorly managed and urges the board to hire an investment banker to explore strategic alternatives, including a sale.

Water Asset Management urged the company to immediately pursue strategic alternatives, including the possibility of a sale. The shareholder also proposed amending Insituform's bylaws, to fix the size of its board at six directors. Water Asset Management, which wants to nominate five directors for election at the 2008 annual meeting, owns 1,466,008 shares (5.3%).

US' water infrastructure is very very old and leaky( something like 25% leakage) these guys can fix it on the cheap and do a good job. Saves water.

Downgraded by Stanford Research from Buy to Hold

Upgraded by Stifel Nicolaus from Sell to Hold

Upgraded by Matrix Research from Sell to Hold

Down 22% - Shares of Insituform Technologies Inc. (INSU) lost
about a quarter of their value on Thursday after the company warned of
lower profit for 2007 and announced plans to exit its tunneling
business. At the current levels the company trades for 20x earnings.
Earnings which are stable and does not take into account potential
growth in their water pipeline rehab business which could grow as much
as 25% over the next year.

Upgraded by Stanford Research from Hold to Buy

Downgraded by Canaccord Adams from Hold to Sell

Downgraded by Stifel Nicolaus from Hold to Sell