Pure Cycle (NASDAQ:PCYO) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Pure Cycle Corporation (NASDAQ:PCYO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.02 and traded as high as $11.41. Pure Cycle shares last traded at $11.19, with a volume of 95,326 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pure Cycle in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Pure Cycle Trading Up 3.9%

The firm has a market cap of $269.57 million, a price-to-earnings ratio of 19.98 and a beta of 1.34. The business has a 50 day moving average of $11.35 and a 200 day moving average of $11.02. The company has a quick ratio of 1.75, a current ratio of 2.29 and a debt-to-equity ratio of 0.05.

Pure Cycle (NASDAQ:PCYO) last announced its earnings results on Wednesday, January 7th. The utilities provider reported $0.19 earnings per share for the quarter. The firm had revenue of $9.14 million during the quarter. Pure Cycle had a net margin of 46.62% and a return on equity of 9.79%.

Institutional Trading of Pure Cycle

A number of hedge funds have recently bought and sold shares of PCYO. Curi Capital LLC raised its holdings in Pure Cycle by 319.5% in the 2nd quarter. Curi Capital LLC now owns 672,048 shares of the utilities provider’s stock valued at $7,204,000 after acquiring an additional 511,837 shares during the last quarter. First Wilshire Securities Management Inc. grew its position in shares of Pure Cycle by 130.7% in the fourth quarter. First Wilshire Securities Management Inc. now owns 370,660 shares of the utilities provider’s stock valued at $4,074,000 after purchasing an additional 209,993 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Pure Cycle by 14.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 672,927 shares of the utilities provider’s stock valued at $7,449,000 after purchasing an additional 84,420 shares during the period. Tealwood Asset Management Inc. increased its stake in Pure Cycle by 75.0% in the third quarter. Tealwood Asset Management Inc. now owns 195,146 shares of the utilities provider’s stock valued at $2,160,000 after purchasing an additional 83,614 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Pure Cycle during the third quarter worth about $780,000. Institutional investors and hedge funds own 51.39% of the company’s stock.

Pure Cycle Company Profile

Pure Cycle Corporation (NASDAQ:PCYO) is a Colorado-based utility and real estate development company focused on water resource management and land development along the Front Range. The company’s core operations involve the acquisition, treatment and distribution of potable water, as well as the collection and treatment of wastewater, serving suburban and rural communities in the Denver metropolitan area. Pure Cycle holds substantial water rights and operates distribution and treatment facilities under a regulated utility model, providing essential services to residential and commercial customers.

In addition to its water utility business, Pure Cycle engages in real estate development, leveraging its water assets to create fully serviced residential communities.