Pure Cycle (NASDAQ:PCYO) Announces Earnings Results

Pure Cycle (NASDAQ:PCYO) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.12 EPS for the quarter, FiscalAI reports. The company had revenue of $8.22 million during the quarter. Pure Cycle had a net margin of 43.66% and a return on equity of 10.06%.

Pure Cycle Trading Up 1.4%

NASDAQ:PCYO opened at $10.79 on Friday. The stock has a market capitalization of $260.04 million, a price-to-earnings ratio of 17.69 and a beta of 1.23. Pure Cycle has a 52 week low of $9.65 and a 52 week high of $12.44. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $10.77 and a 200 day moving average of $10.88.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Pure Cycle

Hedge funds have recently modified their holdings of the stock. Potomac Capital Management Inc. purchased a new position in shares of Pure Cycle in the 4th quarter valued at approximately $536,000. First Wilshire Securities Management Inc. grew its position in Pure Cycle by 130.7% during the 4th quarter. First Wilshire Securities Management Inc. now owns 370,660 shares of the utilities provider’s stock worth $4,074,000 after purchasing an additional 209,993 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in Pure Cycle during the 1st quarter worth approximately $825,000. ArrowMark Colorado Holdings LLC increased its stake in Pure Cycle by 14.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 672,927 shares of the utilities provider’s stock valued at $7,449,000 after purchasing an additional 84,420 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Pure Cycle by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,521 shares during the last quarter. Institutional investors and hedge funds own 51.39% of the company’s stock.

About Pure Cycle

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.