Pure Cycle (NASDAQ:PCYO) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Pure Cycle Co. (NASDAQ:PCYO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 Analysts Forecast Growth

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

Pure Cycle Price Performance

The company has a market cap of $302.14 million, a price-to-earnings ratio of 26.15 and a beta of 1.00. The company's 50-day simple moving average is $12.63 and its 200-day simple moving average is $11.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.05 and a quick ratio of 3.66.

Insider Activity

In related news, Director Daniel R. Kozlowski sold 20,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.10, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.20% of the company's stock.

Institutional Investors Weigh In On Pure Cycle

Several hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Pure Cycle by 58.6% during 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 in the last quarter. Barclays PLC boosted its stake in Pure Cycle by 253.9% during the 3rd quarter. Barclays PLC now owns 27,385 shares of the utilities provider's stock valued at $295,000 after acquiring an additional 19,646 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pure Cycle by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider's stock worth $5,500,000 after acquiring an additional 49,272 shares in the last quarter. State Street Corp increased its position in shares of Pure Cycle by 2.5% in the 3rd quarter. State Street Corp now owns 412,332 shares of the utilities provider's stock worth $4,441,000 after purchasing an additional 10,124 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Pure Cycle by 5.5% in the 3rd 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 in 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.