Pure Cycle (NASDAQ:PCYO) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Pure Cycle (NASDAQ:PCYO) from a hold rating to a sell rating in a research note released on Friday.

Pure Cycle Trading Down 1.7 %

Shares of PCYO stock opened at $9.50 on Friday. The company has a quick ratio of 3.56, a current ratio of 4.10 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $9.89. Pure Cycle has a fifty-two week low of $9.10 and a fifty-two week high of $13.07. The stock has a market capitalization of $228.85 million, a P/E ratio of 35.19 and a beta of 0.97.

Pure Cycle (NASDAQ:PCYO) last released its quarterly earnings data on Friday, January 12th. The utilities provider reported $0.09 earnings per share for the quarter. The business had revenue of $5.39 million during the quarter. Pure Cycle had a return on equity of 5.49% and a net margin of 34.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC grew its position in Pure Cycle by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 10,581 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 3,752 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Pure Cycle during the first quarter valued at approximately $284,000. Dimensional Fund Advisors LP increased its stake in Pure Cycle by 14.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 270,492 shares of the utilities provider’s stock valued at $3,251,000 after buying an additional 33,549 shares during the period. Vanguard Group Inc. lifted its position in Pure Cycle by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,045,077 shares of the utilities provider’s stock worth $12,562,000 after buying an additional 50,970 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its stake in shares of Pure Cycle by 25.2% during the 1st quarter. Employees Retirement System of Texas now owns 84,500 shares of the utilities provider’s stock valued at $1,016,000 after buying an additional 17,000 shares during the period. 51.39% of the stock is currently owned by institutional investors and hedge funds.

Pure Cycle Company Profile

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. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.