Weiss Ratings Reiterates Hold (C+) Rating for Pure Cycle (NASDAQ:PCYO)

Key Points

• Weiss Ratings reaffirmed a "hold (C+)" rating for Pure Cycle (NASDAQ:PCYO), maintaining the consensus rating for the stock.
• Institutional ownership stands at 51.39% as multiple hedge funds have increased their stakes in Pure Cycle during the second quarter.
• Pure Cycle reported a net margin of 49.58% and earnings per share of $0.09 in its latest quarterly results.

Pure Cycle (NASDAQ:PCYO - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Pure Cycle from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Pure Cycle Stock Up 0.7%

Shares of Pure Cycle stock opened at $11.13 on Wednesday. Pure Cycle has a 52-week low of $9.65 and a 52-week high of $14.63. The company has a 50 day moving average of $10.59 and a 200 day moving average of $10.44. The company has a quick ratio of 2.40, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $267.90 million, a P/E ratio of 20.24 and a beta of 1.33.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter. Pure Cycle had a net margin of 49.58% and a return on equity of 10.19%. The company had revenue of $5.14 million during the quarter.

Hedge Funds Weigh In On Pure Cycle

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in Pure Cycle by 11,145.1% in the 2nd quarter. Lazard Asset Management LLC now owns 5,735 shares of the utilities provider's stock valued at $61,000 after buying an additional 5,684 shares during the period. Kelleher Financial Advisors acquired a new position in shares of Pure Cycle during the 2nd quarter worth $107,000. NorthRock Partners LLC acquired a new position in shares of Pure Cycle during the 2nd quarter worth $108,000. Beacon Investment Advisory Services Inc. grew its stake in shares of Pure Cycle by 7.6% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 14,166 shares of the utilities provider's stock worth $152,000 after purchasing an additional 1,000 shares during the period. Finally, Horizon Kinetics Asset Management LLC acquired a new position in shares of Pure Cycle during the 2nd quarter worth $156,000. 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.

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