Pure Cycle (NASDAQ:PCYO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Pure Cycle Corporation (NASDAQ:PCYO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.02 and traded as low as $9.75. Pure Cycle shares last traded at $9.92, with a volume of 190,055 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Pure Cycle Stock Down 1.2%

The company’s fifty day simple moving average is $10.81 and its 200-day simple moving average is $11.02. The firm has a market capitalization of $239.11 million, a PE ratio of 17.10 and a beta of 1.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.83.

Pure Cycle (NASDAQ:PCYO) last issued its quarterly earnings data on Wednesday, April 8th. The utilities provider reported $0.05 EPS for the quarter. The firm had revenue of $5.17 million during the quarter. Pure Cycle had a return on equity of 9.75% and a net margin of 45.80%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in Pure Cycle by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 131,836 shares of the utilities provider’s stock valued at $1,380,000 after buying an additional 37,018 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Pure Cycle during the first quarter worth about $201,000. Rhumbline Advisers increased its holdings in shares of Pure Cycle by 20.4% during the second quarter. Rhumbline Advisers now owns 40,489 shares of the utilities provider’s stock valued at $434,000 after acquiring an additional 6,856 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Pure Cycle by 120.2% during the second quarter. Marshall Wace LLP now owns 26,736 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 14,592 shares in the last quarter. Finally, Curi Capital LLC raised its position in shares of Pure Cycle by 319.5% in the 2nd quarter. Curi Capital LLC now owns 672,048 shares of the utilities provider’s stock valued at $7,204,000 after purchasing an additional 511,837 shares during the last quarter. 51.39% of the stock is owned by institutional investors and hedge funds.

About Pure Cycle

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.