Pure Cycle (NASDAQ:PCYO) Releases Earnings Results

Pure Cycle (NASDAQ:PCYO) announced its earnings results on Wednesday. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, FiscalAI reports. Pure Cycle had a return on equity of 9.75% and a net margin of 45.80%.The company had revenue of $8.22 million for the quarter.

Pure Cycle Stock Performance

PCYO stock traded up $0.02 during midday trading on Wednesday, hitting $10.67. The company’s stock had a trading volume of 85,121 shares, compared to its average volume of 57,887. The stock has a market cap of $257.19 million, a price-to-earnings ratio of 18.40 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $10.80 and its 200 day moving average price is $10.90. Pure Cycle has a 1 year low of $9.65 and a 1 year high of $12.44.

Institutional Investors Weigh In On Pure Cycle

A number of hedge funds have recently made changes to their positions in PCYO. Curi Capital LLC lifted its position in shares of Pure Cycle by 319.5% during the second quarter. Curi Capital LLC now owns 672,048 shares of the utilities provider’s stock worth $7,204,000 after acquiring an additional 511,837 shares in the last quarter. First Wilshire Securities Management Inc. grew its position in shares of Pure Cycle by 130.7% in the fourth quarter. First Wilshire Securities Management Inc. now owns 370,660 shares of the utilities provider’s stock valued at $4,074,000 after purchasing an additional 209,993 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Pure Cycle by 14.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 672,927 shares of the utilities provider’s stock valued at $7,449,000 after purchasing an additional 84,420 shares during the period. North Star Investment Management Corp. purchased a new stake in Pure Cycle during the 1st quarter worth about $825,000. Finally, Potomac Capital Management Inc. purchased a new stake in Pure Cycle during the 4th quarter worth about $536,000. 51.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.