Pure Cycle (NASDAQ:PCYO) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Pure Cycle (NASDAQ:PCYO) from a hold rating to a sell rating in a research report sent to investors on Friday.

Pure Cycle Trading Down 1.7 %

Shares of PCYO stock opened at $9.50 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.10 and a quick ratio of 3.56. Pure Cycle has a 1-year low of $9.10 and a 1-year high of $13.07. The business’s fifty day moving average price is $9.70 and its 200 day moving average price is $9.89. The firm has a market capitalization of $228.85 million, a PE ratio of 35.19 and a beta of 0.97.

Pure Cycle (NASDAQ:PCYO) last issued its earnings results on Friday, January 12th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $5.39 million during the quarter. Pure Cycle had a net margin of 34.68% and a return on equity of 5.49%.

Hedge Funds Weigh In On Pure Cycle

Several hedge funds and other institutional investors have recently bought and sold shares of PCYO. BNP Paribas Arbitrage SNC boosted its stake in Pure Cycle by 26.3% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 5,369 shares of the utilities provider’s stock worth $59,000 after buying an additional 1,119 shares during the last quarter. Rhumbline Advisers boosted its holdings in Pure Cycle by 4.6% in the third quarter. Rhumbline Advisers now owns 26,519 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 1,165 shares during the last quarter. UBS Group AG grew its position in Pure Cycle by 20.6% during the first quarter. UBS Group AG now owns 6,920 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 1,180 shares during the period. Skylands Capital LLC raised its holdings in shares of Pure Cycle by 6.2% in the 3rd quarter. Skylands Capital LLC now owns 20,702 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,202 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Pure Cycle by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 87,658 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 1,476 shares in the last quarter. 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.