Short Interest in Pure Cycle Co. (NASDAQ:PCYO) Decreases By 16.4%

Pure Cycle Co. (NASDAQ:PCYO - Get Free Report) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 187,900 shares, a drop of 16.4% from the March 31st total of 224,700 shares. Based on an average trading volume of 41,800 shares, the short-interest ratio is currently 4.5 days. Approximately 0.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Pure Cycle

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Pure Cycle by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,508 shares of the utilities provider's stock worth $425,000 after acquiring an additional 1,054 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Pure Cycle by 23.8% during the 4th quarter. Wells Fargo & Company MN now owns 12,191 shares of the utilities provider's stock worth $155,000 after purchasing an additional 2,343 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Pure Cycle by 5.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 67,219 shares of the utilities provider's stock worth $704,000 after purchasing an additional 3,333 shares during the last quarter. Barclays PLC grew its position in shares of Pure Cycle by 14.1% in the fourth quarter. Barclays PLC now owns 31,247 shares of the utilities provider's stock valued at $396,000 after purchasing an additional 3,862 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Pure Cycle by 87.0% in the fourth quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock valued at $112,000 after purchasing an additional 4,110 shares during the last quarter. 51.39% of the stock is currently owned by institutional investors and hedge funds.

Pure Cycle Price Performance

Shares of Pure Cycle stock traded up $0.35 on Tuesday, reaching $10.72. The company's stock had a trading volume of 64,011 shares, compared to its average volume of 52,603. The stock has a 50-day moving average price of $10.50 and a 200-day moving average price of $11.64. Pure Cycle has a 52-week low of $8.94 and a 52-week high of $14.63. The company has a market capitalization of $258.09 million, a P/E ratio of 19.49 and a beta of 1.30. The company has a quick ratio of 3.09, a current ratio of 3.56 and a debt-to-equity ratio of 0.05.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The utilities provider reported $0.03 EPS for the quarter. The company had revenue of $4.00 million during the quarter. Pure Cycle had a net margin of 46.32% and a return on equity of 10.54%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pure Cycle from a "buy" rating to a "hold" rating in a research note on Friday, January 10th.

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.