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

Shares of Pure Cycle Corporation (NASDAQ:PCYO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.87 and traded as high as $11.93. Pure Cycle shares last traded at $11.83, with a volume of 45,452 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pure Cycle in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Pure Cycle has a consensus rating of “Hold”.

Pure Cycle Stock Performance

The firm has a market capitalization of $284.98 million, a PE ratio of 21.13 and a beta of 1.35. The company has a current ratio of 2.29, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $11.34 and its two-hundred day simple moving average is $10.87.

Pure Cycle (NASDAQ:PCYO) last released its quarterly earnings results on Wednesday, January 7th. The utilities provider reported $0.19 earnings per share for the quarter. The firm had revenue of $9.14 million for the quarter. Pure Cycle had a return on equity of 9.79% and a net margin of 46.62%.

Insiders Place Their Bets

In other Pure Cycle news, Director Daniel R. Kozlowski sold 68,778 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.01, for a total value of $757,245.78. Following the transaction, the director directly owned 2,600,000 shares of the company’s stock, valued at approximately $28,626,000. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Pure Cycle

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Pure Cycle by 16.1% in 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. ArrowMark Colorado Holdings LLC grew its position in Pure Cycle by 14.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 672,927 shares of the utilities provider’s stock valued at $7,449,000 after buying an additional 84,420 shares during the period. Alliancebernstein L.P. grew its position in 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 period. Boston Partners increased its holdings in Pure Cycle by 6.6% during the third quarter. Boston Partners now owns 199,908 shares of the utilities provider’s stock valued at $2,213,000 after buying an additional 12,343 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Pure Cycle by 64.0% in the third quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 1,513 shares during the period. Hedge funds and other institutional investors own 51.39% of the company’s stock.

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.