Short Interest in Pure Cycle Co. (NASDAQ:PCYO) Declines By 16.4%

Pure Cycle Co. (NASDAQ:PCYO) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 187,900 shares, a drop of 16.4% from the March 31st total of 224,700 shares. Based on an average trading volume of 41,800 shares, the days-to-cover ratio is currently 4.5 days. Approximately 0.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Pure Cycle from a “buy” rating to a “hold” rating in a research report on Friday, January 10th.

Pure Cycle Trading Up 1.2 %

Pure Cycle stock opened at $10.09 on Friday. Pure Cycle has a 1 year low of $8.94 and a 1 year high of $14.63. The firm’s 50-day moving average is $10.52 and its 200-day moving average is $11.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.09 and a current ratio of 3.56. The company has a market cap of $242.93 million, a P/E ratio of 18.35 and a beta of 1.30.

Pure Cycle (NASDAQ:PCYO) last issued its earnings results on Wednesday, April 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $4.00 million for the quarter. Pure Cycle had a net margin of 46.32% and a return on equity of 10.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCYO. Heartland Advisors Inc. increased its position in Pure Cycle by 17.5% in the fourth quarter. Heartland Advisors Inc. now owns 627,264 shares of the utilities provider’s stock worth $7,954,000 after buying an additional 93,495 shares during the period. Geode Capital Management LLC increased its holdings in shares of Pure Cycle by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider’s stock worth $5,500,000 after acquiring an additional 49,272 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pure Cycle by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 466,795 shares of the utilities provider’s stock worth $5,919,000 after acquiring an additional 6,387 shares during the period. Bard Associates Inc. lifted its position in Pure Cycle by 1.3% in the 4th quarter. Bard Associates Inc. now owns 369,843 shares of the utilities provider’s stock valued at $4,690,000 after purchasing an additional 4,848 shares during the last quarter. Finally, Tealwood Asset Management Inc. boosted its stake in Pure Cycle by 72.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 203,158 shares of the utilities provider’s stock valued at $2,576,000 after purchasing an additional 85,558 shares during the period. Institutional investors and hedge funds own 51.39% of the company’s stock.

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. 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.