Pure Cycle (NASDAQ:PCYO) Shares Break Below 200 Day Moving Average – Here’s What Happened

Pure Cycle Corporation (NASDAQ:PCYO)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.96 and traded as low as $10.65. Pure Cycle shares last traded at $10.78, with a volume of 170,332 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Pure Cycle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Pure Cycle Price Performance

The stock’s 50-day simple moving average is $11.11 and its 200 day simple moving average is $10.96. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.08. The company has a market cap of $259.80 million, a price-to-earnings ratio of 17.67 and a beta of 1.21.

Hedge Funds Weigh In On Pure Cycle

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its stake in Pure Cycle by 74.0% in the 2nd quarter. Squarepoint Ops LLC now owns 42,571 shares of the utilities provider’s stock valued at $456,000 after purchasing an additional 18,108 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Pure Cycle during the second quarter valued at about $872,000. Bank of New York Mellon Corp purchased a new position in Pure Cycle in the second quarter valued at approximately $863,000. Marquette Asset Management LLC acquired a new position in shares of Pure Cycle during the 2nd quarter valued at $270,000. Finally, Epiq Partners LLC lifted its stake in shares of Pure Cycle by 0.6% during the second quarter. Epiq Partners LLC now owns 258,962 shares of the utilities provider’s stock worth $2,773,000 after purchasing an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 51.39% of the company’s stock.

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.