Pure Cycle Co. (NASDAQ:PCYO) Sees Large Decrease in Short Interest

Pure Cycle Co. (NASDAQ:PCYO - Get Free Report) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 192,600 shares, a drop of 15.2% from the February 13th total of 227,000 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 42,100 shares, the short-interest ratio is currently 4.6 days.

Institutional Investors Weigh In On Pure Cycle

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Pure Cycle during the fourth quarter worth approximately $110,000. BNP Paribas Financial Markets lifted its stake in shares of Pure Cycle by 87.0% during the 4th quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock worth $112,000 after purchasing an additional 4,110 shares during the period. Deutsche Bank AG purchased a new position in shares of Pure Cycle during the 4th quarter worth $126,000. Linden Thomas Advisory Services LLC acquired a new stake in shares of Pure Cycle during the fourth quarter worth $148,000. Finally, JPMorgan Chase & Co. grew 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 valued at $155,000 after purchasing an additional 5,305 shares during the period. 51.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pure Cycle from a "buy" rating to a "hold" rating in a report on Friday, January 10th.

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Pure Cycle Price Performance

NASDAQ:PCYO traded up $0.08 during trading hours on Friday, reaching $10.71. 130,330 shares of the company traded hands, compared to its average volume of 48,595. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.56 and a quick ratio of 3.09. The firm's 50-day moving average is $11.38 and its 200-day moving average is $11.70. The stock has a market cap of $257.86 million, a P/E ratio of 19.47 and a beta of 1.05. Pure Cycle has a 1-year low of $8.94 and a 1-year high of $14.63.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings data on Wednesday, January 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter. Pure Cycle had a return on equity of 10.54% and a net margin of 46.32%.

Pure Cycle Company Profile

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.