TheStreet lowered shares of Pure Cycle (NASDAQ:PCYO) from a b- rating to a c+ rating in a report released on Friday.

Pure Cycle (NASDAQ:PCYO) opened at $8.05 on Friday. Pure Cycle has a 12 month low of $5.13 and a 12 month high of $8.95. The stock has a market cap of $191.22, a price-to-earnings ratio of -134.17 and a beta of 0.86.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCYO. Janus Henderson Group PLC acquired a new position in Pure Cycle in the second quarter valued at $6,183,000. State Street Corp acquired a new position in Pure Cycle in the second quarter valued at $1,353,000. Cadence Capital Management LLC acquired a new position in Pure Cycle in the fourth quarter valued at $1,292,000. Boston Partners boosted its stake in Pure Cycle by 14.8% in the third quarter. Boston Partners now owns 681,684 shares of the utilities provider’s stock valued at $5,113,000 after acquiring an additional 87,637 shares in the last quarter. Finally, Adirondack Research & Management Inc. boosted its stake in Pure Cycle by 49.9% in the fourth quarter. Adirondack Research & Management Inc. now owns 195,323 shares of the utilities provider’s stock valued at $1,631,000 after acquiring an additional 65,029 shares in the last quarter. Institutional investors own 67.87% of the company’s stock.

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About Pure Cycle

Pure Cycle Corporation is an integrated water company that provides wholesale water and wastewater services. The Company provides its services to wholesale customers, which include industrial customers and local governmental entities that provide water and wastewater services to their end-use customers located in the Denver, Colorado metropolitan area.

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