Pure Cycle (NASDAQ:PCYO) Shares Cross Below 200 Day Moving Average - What's Next?

Key Points

• Pure Cycle shares fell below their 200-day moving average, trading as low as $10.65 and last changing hands at $10.78, compared with the average of $10.96.
• Weiss Ratings upgraded the stock from “hold (c+)” to “buy (b-),” while the sole tracked equity analyst also rates Pure Cycle a Buy.
• Institutional investors and hedge funds own 51.39% of the company; Pure Cycle has a $259.77 million market capitalization and low debt-to-equity ratio of 0.08.

Pure Cycle Corporation (NASDAQ:PCYO - Get Free Report) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $10.96 and traded as low as $10.65. Pure Cycle shares last traded at $10.78, with a volume of 170,332 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Pure Cycle from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Pure Cycle Price Performance

The company's 50 day moving average price is $11.11 and its 200 day moving average price is $10.96. 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 company has a market cap of $259.77 million, a price-to-earnings ratio of 17.67 and a beta of 1.21.

Institutional Investors Weigh In On Pure Cycle

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC bought a new position in Pure Cycle during the first quarter worth about $111,000. Whittier Trust Co. lifted its position in Pure Cycle by 48.8% in the 1st quarter. Whittier Trust Co. now owns 15,240 shares of the utilities provider's stock valued at $158,000 after acquiring an additional 5,000 shares in the last quarter. Lido Advisors LLC acquired a new position in Pure Cycle in the 1st quarter worth $205,000. Marquette Asset Management LLC bought a new position in Pure Cycle during the 2nd quarter worth about $270,000. Finally, John G Ullman & Associates Inc. bought a new stake in shares of Pure Cycle in the first quarter valued at about $265,000. 51.39% of the stock is owned by institutional investors and hedge funds.

Pure Cycle Company Profile

Pure Cycle Corporation is a water and wastewater services company based in Colorado. The company develops, owns and operates water and wastewater systems, supplying treated water and providing wastewater collection, treatment and reclamation services for residential, commercial and municipal customers.

Pure Cycle owns water rights and related infrastructure in the South Platte River Basin and operates facilities that include water treatment, storage and distribution systems, as well as wastewater treatment and reclamation assets.

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