Pure Cycle (NASDAQ:PCYO) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• Pure Cycle shares fell below their 200-day moving average of $10.90, reaching $10.89 before last trading at $10.96 on volume of 52,613 shares.
• Wall Street sentiment remains neutral: Weiss Ratings upgraded the stock to “hold (c+),” while the sole investment analyst covering Pure Cycle maintains a Hold rating.
• The company reported quarterly revenue of $8.22 million and earnings of $0.12 per share, with a 43.66% net margin; institutional investors own 51.39% of the stock.

Pure Cycle Corporation (NASDAQ:PCYO - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $10.90 and traded as low as $10.89. Pure Cycle shares last traded at $10.96, with a volume of 52,613 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Pure Cycle from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Pure Cycle Stock Performance

The company has a market cap of $264.14 million, a PE ratio of 17.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.53. The stock's 50-day simple moving average is $11.11 and its 200 day simple moving average is $10.90.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its earnings results on Wednesday, July 8th. The utilities provider reported $0.12 earnings per share for the quarter. Pure Cycle had a net margin of 43.66% and a return on equity of 9.98%. The business had revenue of $8.22 million for the quarter.

Institutional Investors Weigh In On Pure Cycle

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new stake in shares of Pure Cycle in the 1st quarter worth approximately $111,000. Whittier Trust Co. boosted its position in Pure Cycle by 48.8% during the first quarter. Whittier Trust Co. now owns 15,240 shares of the utilities provider's stock worth $158,000 after purchasing an additional 5,000 shares in the last quarter. Lido Advisors LLC purchased a new stake in Pure Cycle during the first quarter worth $205,000. John G Ullman & Associates Inc. acquired a new stake in Pure Cycle in the first quarter valued at $265,000. Finally, Marquette Asset Management LLC acquired a new stake in Pure Cycle in the second quarter valued at $270,000. 51.39% of the stock is currently owned by hedge funds and other institutional investors.

About Pure Cycle

Pure Cycle Corporation NASDAQ: PCYO is a Colorado-based water and wastewater services company. The company develops, owns and operates water and wastewater systems and provides related utility services to residential, commercial and industrial customers.

Pure Cycle's operations are focused primarily in the Denver metropolitan area, where it owns water rights and infrastructure and supplies wholesale and retail water and wastewater services. Its activities include water production, treatment and distribution, wastewater collection and treatment, and the development of utility infrastructure for growing communities.

The company has been involved in providing utility services for master-planned developments, including the Sky Ranch community east of Denver.

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