Pure Cycle (NASDAQ:PCYO) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Pure Cycle Corporation (NASDAQ:PCYO) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.80 and traded as high as $11.70. Pure Cycle shares last traded at $11.52, with a volume of 48,838 shares.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Pure Cycle Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.53 and a quick ratio of 1.13. The firm has a market cap of $276.19 million, a price-to-earnings ratio of 18.79 and a beta of 1.22. The business’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $10.80.

Pure Cycle (NASDAQ:PCYO) last posted its quarterly earnings results on Wednesday, July 8th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter. Pure Cycle had a net margin of 43.66% and a return on equity of 9.98%. The firm had revenue of $8.22 million for the quarter.

Hedge Funds Weigh In On Pure Cycle

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Pure Cycle by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 131,836 shares of the utilities provider’s stock valued at $1,380,000 after buying an additional 37,018 shares during the last quarter. Jane Street Group LLC bought a new position in Pure Cycle during the 1st quarter worth approximately $201,000. Rhumbline Advisers grew its position in shares of Pure Cycle by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 40,489 shares of the utilities provider’s stock worth $434,000 after acquiring an additional 6,856 shares in the last quarter. Marshall Wace LLP grew its position in shares of Pure Cycle by 120.2% in the 2nd quarter. Marshall Wace LLP now owns 26,736 shares of the utilities provider’s stock worth $287,000 after acquiring an additional 14,592 shares in the last quarter. Finally, Curi Capital LLC increased its holdings in shares of 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. Institutional investors 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.