StockNews.com downgraded shares of Pure Cycle (NASDAQ:PCYO – Get Rating) from a buy rating to a hold rating in a report released on Sunday morning.

Pure Cycle Trading Up 3.5 %

PCYO stock opened at $10.61 on Friday. Pure Cycle has a 1-year low of $7.77 and a 1-year high of $15.45. The firm has a market cap of $252.96 million, a P/E ratio of 27.21 and a beta of 0.91. The business's 50 day moving average is $8.87 and its 200-day moving average is $9.91. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Pure Cycle

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of Pure Cycle by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 22,752 shares of the utilities provider's stock valued at $240,000 after purchasing an additional 1,884 shares during the period. BNP Paribas Arbitrage SNC grew its position in Pure Cycle by 35.4% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 7,602 shares of the utilities provider's stock worth $63,000 after acquiring an additional 1,987 shares during the last quarter. FMR LLC grew its position in Pure Cycle by 218.4% during the 2nd quarter. FMR LLC now owns 3,697 shares of the utilities provider's stock worth $39,000 after acquiring an additional 2,536 shares during the last quarter. Ellevest Inc. grew its position in Pure Cycle by 653.2% during the 3rd quarter. Ellevest Inc. now owns 3,171 shares of the utilities provider's stock worth $26,000 after acquiring an additional 2,750 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Pure Cycle by 99.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,615 shares of the utilities provider's stock worth $59,000 after acquiring an additional 2,798 shares during the last quarter. 63.96% of the stock is currently owned by institutional investors.

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 master-planned community; and oil and gas leasing business.

Further Reading

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