Pure Cycle (NASDAQ:PCYO) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Pure Cycle (NASDAQ:PCYO) from a buy rating to a hold rating in a research report report published on Tuesday, ValuEngine reports.

Several other research analysts have also recently issued reports on PCYO. TheStreet upgraded Pure Cycle from a c rating to a b- rating in a research note on Friday, November 8th. BidaskClub raised Pure Cycle from a hold rating to a buy rating in a report on Saturday, November 16th.

Shares of PCYO opened at $12.10 on Tuesday. The stock has a 50-day moving average of $11.62 and a two-hundred day moving average of $10.73. The stock has a market cap of $295.93 million, a P/E ratio of 73.06 and a beta of 0.64. Pure Cycle has a one year low of $9.20 and a one year high of $12.50.

In other Pure Cycle news, major shareholder Par Investment Partners Lp sold 500,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.75, for a total value of $5,375,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Plaisance Capital Llc purchased 5,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were bought at an average cost of $10.88 per share, for a total transaction of $54,400.00. The disclosure for this purchase can be found here. Company insiders own 5.03% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Tealwood Asset Management Inc. grew its holdings in Pure Cycle by 56.5% during the third quarter. Tealwood Asset Management Inc. now owns 589,463 shares of the utilities provider’s stock worth $6,060,000 after acquiring an additional 212,885 shares during the period. Dalton Greiner Hartman Maher & Co. purchased a new stake in Pure Cycle in the 3rd quarter worth approximately $640,000. Vanguard Group Inc. grew its stake in shares of Pure Cycle by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 859,898 shares of the utilities provider’s stock worth $9,115,000 after purchasing an additional 51,945 shares during the period. Renaissance Technologies LLC grew its stake in shares of Pure Cycle by 72.5% during the 2nd quarter. Renaissance Technologies LLC now owns 67,628 shares of the utilities provider’s stock worth $717,000 after purchasing an additional 28,428 shares during the period. Finally, Skylands Capital LLC increased its holdings in shares of Pure Cycle by 32.5% during the 3rd quarter. Skylands Capital LLC now owns 105,157 shares of the utilities provider’s stock valued at $1,081,000 after purchasing an additional 25,807 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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 Activities. The company offers utility services, including water production, storage, treatment, wastewater collection and treatment, irrigation water treatment and transmission, construction management, billing and collection, and emergency response services, as well as bulk transmission services to retail distribution systems.

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