Pure Cycle (NASDAQ:PCYO) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Pure Cycle (NASDAQ:PCYO) from a sell rating to a hold rating in a research report report published on Wednesday, BidAskClub reports.

Separately, ValuEngine cut shares of Pure Cycle from a strong-buy rating to a buy rating in a research note on Wednesday, October 2nd.

Shares of NASDAQ:PCYO traded up $0.44 during midday trading on Wednesday, hitting $10.90. The stock had a trading volume of 10,131 shares, compared to its average volume of 39,020. Pure Cycle has a 12 month low of $8.35 and a 12 month high of $11.45. The business’s 50-day simple moving average is $10.60 and its 200-day simple moving average is $10.34. The company has a market cap of $250.63 million, a P/E ratio of 117.00 and a beta of 0.55.

Pure Cycle (NASDAQ:PCYO) last released its earnings results on Monday, July 8th. The utilities provider reported $0.05 earnings per share for the quarter. Pure Cycle had a net margin of 14.59% and a return on equity of 3.06%. The business had revenue of $5.19 million during the quarter.

In other Pure Cycle news, major shareholder Par Investment Partners Lp sold 2,950,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $9.75, for a total transaction of $28,762,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.03% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in PCYO. BNP Paribas Arbitrage SA lifted its holdings in Pure Cycle by 1,618.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,625 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 3,414 shares during the last quarter. Beddow Capital Management Inc. acquired a new stake in Pure Cycle during the 2nd quarter valued at $159,000. Renaissance Technologies LLC lifted its holdings in Pure Cycle by 72.5% during the 2nd quarter. Renaissance Technologies LLC now owns 67,628 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 28,428 shares during the last quarter. Northern Trust Corp lifted its holdings in Pure Cycle by 1.7% during the 2nd quarter. Northern Trust Corp now owns 187,101 shares of the utilities provider’s stock valued at $1,984,000 after purchasing an additional 3,179 shares during the last quarter. Finally, Wall Street Access Asset Management LLC acquired a new stake in Pure Cycle during the 2nd quarter valued at $167,000. 65.67% of the stock is owned by institutional investors and hedge funds.

About Pure Cycle

Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development Activities. The company offers utility services, including water production, storage, treatment, wastewater collection and treatment, irrigation water treatment and transmission, construction management, billing and collection, and emergency response services, as well as bulk transmission services to retail distribution systems.

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