Pure Cycle (NASDAQ:PCYO) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Pure Cycle Co. (NASDAQ:PCYO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.99 and traded as high as $12.98. Pure Cycle shares last traded at $12.96, with a volume of 30,362 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Pure Cycle from a “sell” rating to a “buy” rating in a research note on Monday, November 18th.

Pure Cycle Stock Up 0.7 %

The stock has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $10.99. The company has a market cap of $312.01 million, a price-to-earnings ratio of 27.00 and a beta of 1.00. The company has a current ratio of 4.05, a quick ratio of 3.66 and a debt-to-equity ratio of 0.05.

Insider Activity at Pure Cycle

In other news, Director Daniel R. Kozlowski sold 20,000 shares of Pure Cycle stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.10, for a total transaction of $262,000.00. Following the transaction, the director now owns 2,668,778 shares in the company, valued at approximately $34,960,991.80. The trade was a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Pure Cycle

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Pure Cycle by 58.6% in the third quarter. JPMorgan Chase & Co. now owns 14,359 shares of the utilities provider’s stock worth $155,000 after buying an additional 5,305 shares during the last quarter. Barclays PLC boosted its stake in Pure Cycle by 253.9% in the third quarter. Barclays PLC now owns 27,385 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 19,646 shares in the last quarter. Geode Capital Management LLC raised its position in Pure Cycle by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider’s stock worth $5,500,000 after purchasing an additional 49,272 shares during the last quarter. State Street Corp lifted its position in Pure Cycle by 2.5% during the 3rd quarter. State Street Corp now owns 412,332 shares of the utilities provider’s stock valued at $4,441,000 after purchasing an additional 10,124 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Pure Cycle by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 58,612 shares of the utilities provider’s stock valued at $631,000 after purchasing an additional 3,050 shares during the last quarter. 51.39% of the stock is currently owned by hedge funds and other 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 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.