Potomac Capital Management Inc. Buys New Holdings in Pure Cycle Corporation $PCYO

Potomac Capital Management Inc. bought a new stake in Pure Cycle Corporation (NASDAQ:PCYO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 48,756 shares of the utilities provider’s stock, valued at approximately $536,000. Potomac Capital Management Inc. owned about 0.20% of Pure Cycle at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in Pure Cycle by 143.4% in the third quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,552 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Pure Cycle by 64.0% in the third quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 1,513 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Pure Cycle by 11,145.1% during the second quarter. Lazard Asset Management LLC now owns 5,735 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 5,684 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pure Cycle by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,521 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Pure Cycle by 97.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,167 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 5,998 shares in the last quarter. Institutional investors and hedge funds own 51.39% of the company’s stock.

Pure Cycle Trading Up 2.0%

Shares of PCYO opened at $10.61 on Wednesday. The stock’s 50-day moving average is $10.86 and its two-hundred day moving average is $10.98. The stock has a market cap of $255.70 million, a PE ratio of 18.29 and a beta of 1.24. Pure Cycle Corporation has a 12 month low of $9.65 and a 12 month high of $12.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.83.

Pure Cycle (NASDAQ:PCYO) last issued its quarterly earnings data on Wednesday, April 8th. The utilities provider reported $0.05 EPS for the quarter. The company had revenue of $5.17 million for the quarter. Pure Cycle had a return on equity of 9.75% and a net margin of 45.80%.

Analyst Ratings Changes

Separately, Weiss Ratings cut Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Pure Cycle Company Profile

Pure Cycle Corporation (NASDAQ:PCYO) is a Colorado-based utility and real estate development company focused on water resource management and land development along the Front Range. The company’s core operations involve the acquisition, treatment and distribution of potable water, as well as the collection and treatment of wastewater, serving suburban and rural communities in the Denver metropolitan area. Pure Cycle holds substantial water rights and operates distribution and treatment facilities under a regulated utility model, providing essential services to residential and commercial customers.

In addition to its water utility business, Pure Cycle engages in real estate development, leveraging its water assets to create fully serviced residential communities.