Short Interest in Pure Cycle Co. (NASDAQ:PCYO) Drops By 15.2%

Pure Cycle Co. (NASDAQ:PCYO) was the target 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 trading volume, of 42,100 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Pure Cycle from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

Pure Cycle Stock Performance

NASDAQ PCYO opened at $10.78 on Thursday. The stock has a market capitalization of $259.55 million, a PE ratio of 19.60 and a beta of 1.05. The business has a 50 day simple moving average of $11.43 and a two-hundred day simple moving average of $11.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.56 and a quick ratio of 3.09. Pure Cycle has a 1-year low of $8.94 and a 1-year high of $14.63.

Pure Cycle (NASDAQ:PCYO) last posted 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%.

Institutional Investors Weigh In On Pure Cycle

Several institutional investors have recently modified their holdings of the stock. Heartland Advisors Inc. lifted its stake in shares of Pure Cycle by 17.5% in the 4th quarter. Heartland Advisors Inc. now owns 627,264 shares of the utilities provider’s stock valued at $7,954,000 after purchasing an additional 93,495 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Pure Cycle by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider’s stock valued at $5,500,000 after purchasing an additional 49,272 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pure Cycle by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 466,795 shares of the utilities provider’s stock valued at $5,919,000 after purchasing an additional 6,387 shares during the last quarter. State Street Corp lifted its stake in shares of Pure Cycle by 2.5% during the 3rd quarter. State Street Corp now owns 412,332 shares of the utilities provider’s stock worth $4,441,000 after acquiring an additional 10,124 shares during the last quarter. Finally, Bard Associates Inc. lifted its stake in shares of Pure Cycle by 1.3% during the 4th quarter. Bard Associates Inc. now owns 369,843 shares of the utilities provider’s stock worth $4,690,000 after acquiring an additional 4,848 shares during the last quarter. 51.39% of the stock is owned by 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.