Pure Cycle Corporation (NASDAQ:PCYO – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.81 and traded as high as $11.23. Pure Cycle shares last traded at $11.12, with a volume of 66,012 shares trading hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.
View Our Latest Research Report on PCYO
Pure Cycle Price Performance
Pure Cycle (NASDAQ:PCYO – Get Free Report) last issued its earnings results on Wednesday, July 8th. The utilities provider reported $0.12 EPS for the quarter. Pure Cycle had a net margin of 43.66% and a return on equity of 9.98%. The firm had revenue of $8.22 million during the quarter.
Institutional Investors Weigh In On Pure Cycle
Several institutional investors have recently added to or reduced their stakes in the business. Epiq Partners LLC raised its holdings in Pure Cycle by 0.6% during the second quarter. Epiq Partners LLC now owns 258,962 shares of the utilities provider’s stock worth $2,773,000 after purchasing an additional 1,445 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of 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 buying an additional 1,513 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $122,000 after buying an additional 1,521 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Pure Cycle by 143.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Pure Cycle by 8.5% during the 3rd quarter. Alliancebernstein L.P. now owns 20,320 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 1,600 shares in the last quarter. 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.
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