Pure Cycle (NASDAQ:PCYO) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Pure Cycle Corporation (NASDAQ:PCYO) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.03 and traded as high as $11.50. Pure Cycle shares last traded at $11.46, with a volume of 51,682 shares changing hands.

Analyst Ratings Changes

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

Pure Cycle Stock Performance

The stock has a market cap of $276.19 million, a P/E ratio of 19.76 and a beta of 1.30. The firm has a 50 day moving average of $10.62 and a two-hundred day moving average of $11.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.39.

Pure Cycle (NASDAQ:PCYO) last issued its quarterly earnings results on Wednesday, April 8th. The utilities provider reported $0.05 EPS for the quarter. Pure Cycle had a return on equity of 9.75% and a net margin of 45.80%.The company had revenue of $5.17 million for the quarter.

Hedge Funds Weigh In On Pure Cycle

Several large investors have recently bought and sold shares of PCYO. BNP Paribas Financial Markets boosted its holdings in Pure Cycle by 64.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 1,513 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Pure Cycle by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,521 shares during the period. Russell Investments Group Ltd. raised its position in shares of Pure Cycle by 143.4% during the third quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider’s stock valued at $29,000 after buying an additional 1,552 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Pure Cycle by 8.5% during the third quarter. Alliancebernstein L.P. now owns 20,320 shares of the utilities provider’s stock valued at $225,000 after buying an additional 1,600 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Pure Cycle by 11.1% in the fourth quarter. AQR Capital Management LLC now owns 20,007 shares of the utilities provider’s stock valued at $220,000 after buying an additional 2,004 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 (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.