Pure Cycle (NASDAQ:PCYO) Announces Earnings Results

Pure Cycle (NASDAQ:PCYO) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.05 earnings per share for the quarter, FiscalAI reports. Pure Cycle had a return on equity of 9.79% and a net margin of 46.62%.The firm had revenue of $5.17 million for the quarter.

Pure Cycle Price Performance

Shares of PCYO stock traded up $0.70 during midday trading on Wednesday, reaching $11.74. 98,991 shares of the company traded hands, compared to its average volume of 58,676. The firm’s 50 day simple moving average is $10.62 and its two-hundred day simple moving average is $11.01. The firm has a market cap of $282.83 million, a PE ratio of 20.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.29 and a quick ratio of 1.75. Pure Cycle has a 1-year low of $9.65 and a 1-year high of $12.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pure Cycle in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Hedge Funds Weigh In On Pure Cycle

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Pure Cycle by 2.1% during the third quarter. Vanguard Group Inc. now owns 1,165,271 shares of the utilities provider’s stock worth $12,900,000 after purchasing an additional 23,656 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in 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 last quarter. Curi Capital LLC increased its position in shares of Pure Cycle by 319.5% in the second quarter. Curi Capital LLC now owns 672,048 shares of the utilities provider’s stock valued at $7,204,000 after buying an additional 511,837 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Pure Cycle by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 520,873 shares of the utilities provider’s stock valued at $5,726,000 after buying an additional 13,146 shares in the last quarter. Finally, First Wilshire Securities Management Inc. raised its stake in shares of Pure Cycle by 130.7% during the 4th quarter. First Wilshire Securities Management Inc. now owns 370,660 shares of the utilities provider’s stock worth $4,074,000 after buying an additional 209,993 shares during the last quarter. 51.39% of the stock is owned by hedge funds and other institutional investors.

About Pure Cycle

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.