Pure Cycle (NASDAQ:PCYO) Stock Price Crosses Above 200-Day Moving Average of $9.68

Shares of Pure Cycle Co. (NASDAQ:PCYO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.68 and traded as high as $10.56. Pure Cycle shares last traded at $10.00, with a volume of 253,113 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Pure Cycle from a “hold” rating to a “sell” rating in a research note on Friday, April 12th.

Pure Cycle Stock Up 7.0 %

The firm has a 50-day moving average of $9.38 and a 200 day moving average of $9.68. The stock has a market capitalization of $240.90 million, a price-to-earnings ratio of 37.04 and a beta of 0.92. The company has a current ratio of 4.10, a quick ratio of 3.56 and a debt-to-equity ratio of 0.06.

Pure Cycle (NASDAQ:PCYO) last released its quarterly earnings results on Wednesday, July 10th. The utilities provider reported $0.12 EPS for the quarter. The firm had revenue of $7.60 million for the quarter. Pure Cycle had a return on equity of 5.49% and a net margin of 34.68%.

Hedge Funds Weigh In On Pure Cycle

Institutional investors have recently made changes to their positions in the business. Sapient Capital LLC acquired a new stake in shares of Pure Cycle during the 4th quarter valued at approximately $8,325,000. Magnolia Group LLC increased its stake in Pure Cycle by 28.2% during the fourth quarter. Magnolia Group LLC now owns 1,765,703 shares of the utilities provider’s stock valued at $18,487,000 after purchasing an additional 388,339 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Pure Cycle by 142.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,990 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 1,759 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Pure Cycle in the 1st quarter worth about $173,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Pure Cycle by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,058,312 shares of the utilities provider’s stock valued at $10,054,000 after buying an additional 22,748 shares during the period. 51.39% of the stock is owned by institutional investors and hedge funds.

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.