Pure Cycle (NASDAQ:PCYO) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Pure Cycle Corporation (NASDAQ:PCYO)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.89 and traded as high as $11.08. Pure Cycle shares last traded at $11.07, with a volume of 41,759 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Pure Cycle from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 28th. One investment 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 Stock Performance

The company’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $10.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.53. The stock has a market cap of $263.41 million, a PE ratio of 17.93 and a beta of 1.16.

Hedge Funds Weigh In On Pure Cycle

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Pure Cycle by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 465,015 shares of the utilities provider’s stock worth $4,678,000 after buying an additional 15,027 shares during the last quarter. First Wilshire Securities Management Inc. grew its position in Pure Cycle by 15.1% during the first quarter. First Wilshire Securities Management Inc. now owns 426,687 shares of the utilities provider’s stock valued at $4,292,000 after acquiring an additional 56,027 shares during the last quarter. Epiq Partners LLC grew its position in Pure Cycle by 0.6% during the second quarter. Epiq Partners LLC now owns 258,962 shares of the utilities provider’s stock valued at $2,773,000 after acquiring an additional 1,445 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Pure Cycle during the second quarter worth approximately $872,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Pure Cycle during the second quarter worth approximately $863,000. 51.39% of the stock is currently owned by hedge funds and other institutional investors.

Pure Cycle Company Profile

Pure Cycle Corporation is a water and wastewater services company based in Colorado. The company develops, owns and operates water and wastewater systems, supplying treated water and providing wastewater collection, treatment and reclamation services for residential, commercial and municipal customers. Pure Cycle owns water rights and related infrastructure in the South Platte River Basin and operates facilities that include water treatment, storage and distribution systems, as well as wastewater treatment and reclamation assets.