Pure Cycle (NASDAQ:PCYO) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Technical breakout: Pure Cycle (NASDAQ: PCYO) crossed above its 200-day moving average of $11.04, trading as high as $11.61 and last at $11.44 on volume of 28,480 shares.
• Analyst view: Weiss Ratings reissued a "Hold (C+)" and the stock's consensus rating on MarketBeat is currently Hold.
• Fundamentals and ownership: The company has a market cap of $275.7M and a P/E of 19.72 with a 45.8% net margin, and institutional investors own about 51.39% of the shares after recent stake increases by firms including Goldman Sachs and Curi Capital.

Pure Cycle Corporation (NASDAQ:PCYO - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.04 and traded as high as $11.61. Pure Cycle shares last traded at $11.44, with a volume of 28,480 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Pure Cycle in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Pure Cycle Stock Performance

The company has a market cap of $275.70 million, a PE ratio of 19.72 and a beta of 1.30. The firm's fifty day moving average is $10.68 and its 200 day moving average is $11.04. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The utilities provider reported $0.05 EPS for the quarter. The company had revenue of $5.17 million during the quarter. Pure Cycle had a net margin of 45.80% and a return on equity of 9.75%.

Institutional Investors Weigh In On Pure Cycle

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCYO. Goldman Sachs Group Inc. boosted its stake in Pure Cycle by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 131,836 shares of the utilities provider's stock worth $1,380,000 after purchasing an additional 37,018 shares during the last quarter. Jane Street Group LLC acquired a new stake in Pure Cycle during the 1st quarter worth $201,000. Rhumbline Advisers boosted its stake in Pure Cycle by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 40,489 shares of the utilities provider's stock worth $434,000 after purchasing an additional 6,856 shares during the last quarter. Marshall Wace LLP boosted its stake in Pure Cycle by 120.2% during the 2nd quarter. Marshall Wace LLP now owns 26,736 shares of the utilities provider's stock worth $287,000 after purchasing an additional 14,592 shares during the last quarter. Finally, Curi Capital LLC boosted its stake in Pure Cycle by 319.5% during the 2nd quarter. Curi Capital LLC now owns 672,048 shares of the utilities provider's stock worth $7,204,000 after purchasing an additional 511,837 shares during the last quarter. Institutional investors and hedge funds 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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