PURE CYCLE CORP (PCYO)
Utilities · Water utilities and land development · NASDAQ
Pure Cycle Corporation is a specialized utility and land development company that manages a master-planned community in Colorado alongside water and wastewater services.
What PURE CYCLE CORP does
Pure Cycle Corporation is a Colorado-based company that builds and operates water and wastewater systems and infrastructure, generating recurring revenues from water and wastewater tap fees and operational activities. The company simultaneously develops residential real estate projects (including the Sky Ranch development), sells developable lots, and operates single-family rental units. It also receives income from oil and gas royalties on its mineral rights holdings.
Themes: Water utilities, Real estate development, Single-family rentals, Land development / lot sales, Intermountain West growth, Oil and gas royalties
Fundamentals
- Price$11.00 as of 2026-10-08 close
- Market cap$265M as of 2026-07-06 (share count; price 2026-10-08)
- 1-year return-1.2% 2025-10-08 close $11.13 → 2026-10-08 close $11.00
- P/E18.05 as of 2026-10-08
- Net margin+50.3% FY2025, SEC XBRL
- Gross margin+61.4% FY2025, SEC XBRL
- ROE+9.2% FY2025, SEC XBRL
- Debt / equity0.09 as of 2026-09-02
- Revenue growth (YoY)+22.9% as of 2026-09-02
- Revenue CAGR (3y)+4.3% SEC XBRL
- Beta0.58 as of 2026-09-02
- Last reported earnings2026-07-09 SEC EDGAR Form 8-K (Item 2.02)
How PCYO compares in its sector
- price-to-earnings ratiomiddle range 67 covered Utilities peers, as of 2026-10-08
- net profit margintop 10% 65 covered Utilities peers, as of 2026-09-02
- operating margintop 25% 62 covered Utilities peers, as of 2026-09-02
- gross margintop 10% 6 covered Utilities peers, as of 2026-09-02
- return on equitymiddle range 72 covered Utilities peers, as of 2026-09-02
- 3-year revenue CAGRmiddle range 70 covered Utilities peers
Position among covered Utilities companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How PURE CYCLE CORP looks technically
PURE CYCLE CORP (PCYO) is trading 0.5% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 19 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 12, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 49, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive). It made a new 20-day low about 4 trading days ago. Day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move. Trading volume is unusually light — only about 49% of its 30-day average.
Trend
9
| Distance from the 200-day | it is trading 0.5% above its 200-day average, the long-term trend line — a longer-term uptrend | +0.5% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $11.10 | $11.10 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $10.94 | $10.94 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing low 14 calendar days ago — the swings before that are what the structure reading is measured on | 14 sessions |
| Wave structure | its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five; the labelling fails if price closes below 10.66. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a three-part correction in leg C. | possible upward five-wave sequence, in wave 3 (one of several readings) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 19 trading days ago — a "golden cross", a bullish long-term signal | 19 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 0.5% above | +0.5% |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 12, below the 25 that marks a real trend) | 11.8 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 49, neither overbought (above 70) nor oversold (below 30) | 48.8 |
|---|---|---|
| Position in its 14-day range | it is trading around the middle of its 14-day range ($10.66 to $11.28) — its "stochastic" reading is 55 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 54.8 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive) | 1 session |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $12.15 | $12.15 |
|---|---|---|
| From the 52-week high | it is 9.5% below its 52-week high (its highest price of the past year) | -9.5% |
| Above the 52-week low | it is 13.3% above its 52-week low (its lowest price of the past year) | +13.3% |
| Below the 52-week high | it is 9.5% below its highest point of the past year | 9.5% |
| Since a 20-day breakout | it made a new 20-day low about 4 trading days ago | 4 sessions |
| Since a 55-day breakout | it made a new 55-day high about 35 trading days ago | 35 sessions |
| All-time high | its highest closing price on record is $16.63 (set on 2021-04-15) | $16.63 |
| Given back of the 52-week move | over the past year its closes ranged ($9.85 to $11.94), and it has recovered around half of its fall from last year’s high — 55% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $11.14 to $11.21. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 55.0% |
| From the all-time high | it is 33.9% below its all-time high | -33.9% |
| Nearest price level | it is sitting right on a resistance level at $11.05 — a price it turned at 9 times since 2024-10-21, most recently on 2026-09-15. Since 2024-10-08 it has 4 such levels below the current price and 5 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +0.5% |
| All-time low | its lowest closing price on record is $1.65 (set on 2011-12-29) | $1.65 |
| Above the all-time low | it is 566.7% above its all-time low | +566.7% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move | 1st percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.1826 between its high and its low — about 1.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.1826 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $10.82 and $11.19 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $10.82 – $11.01 – $11.19 |
| Typical daily range (% of price) | its price moves about 1.7% in a typical session — among the calmest in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 1.7% |
| Stretch from the 200-day average | it is trading 0.3 daily ranges above its 200-day average price (0.5% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.3 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is unusually light — only about 49% of its 30-day average | 0.49× |
|---|
Candlestick patterns
3
| Since a doji | 6 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 6 sessions ago |
|---|---|---|
| Since a hammer | 9 sessions ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | 9 sessions ago |
| Since a bullish engulfing | 8 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 8 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-10-08 at essentially the same price it closed at the session before — no meaningful overnight gap | -0.1% |
|---|---|---|
| Gap filled | a 2.8% gap down opened on 2026-08-25 has been "filled" 31 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 31 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 1.6 percentage points (the stock lost 0.5% while the market gained 1.0%) | -1.6% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 0.4 percentage points (the stock gained 3.4% while the market gained 3.8%) | -0.4% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 11.2 percentage points (the stock gained 6.3% while the market gained 17.5%) | -11.2% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 16.1 percentage points (the stock lost 1.2% while the market gained 15.0%) | -16.1% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, MACD momentum is positive — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: lagging the market over 6 months — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading inside the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the zone traders read as unresolved — neither side has established a trend, and the band is where that gets settled. The band itself is moderate, spanning 3.8% of the share price. | 0.0% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 1% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $10.94 — a volume-weighted average of daily closes over 190 sessions, not a true tick-by-tick VWAP. | +0.5% |
|---|
Price levels it has turned at before
PCYO last closed at $11.00 on 2026-10-08. Since 2024-10-08 it has turned at 4 prices below its last close and 5 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $11.05 | Resistance | 0.5% above the last close | turned there 9 times · 2024-10-21 to 2026-09-15 |
| $10.76 | Support | 2.2% below the last close | turned there 10 times · 2025-03-21 to 2026-09-24 |
| $11.27 | Resistance | 2.4% above the last close | turned there five times · 2025-01-13 to 2026-09-22 |
| $11.55 | Resistance | 5.0% above the last close | turned there four times · 2025-09-19 to 2026-06-23 |
| $10.43 | Support | 5.2% below the last close | turned there 11 times · 2024-10-24 to 2026-08-05 |
| $10.03 | Support | 8.8% below the last close | turned there three times · 2025-06-04 to 2025-09-02 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five.
This labelling fails — stops being a possible reading at all — if it closes below $10.66.
This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
On past moves of this shape the leg has usually ended somewhere between $12.04 and $12.88 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
Alternate reading: The same swings also read as a three-part correction in leg C, which fails on a close below $10.66.
This reading has stood for 8 trading days, since 2026-09-29.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Near 200-day moving-average support · Trading above the 200-day moving average · Recent golden cross (50-day crossed above 200-day) · MACD just crossed bullish (12/26/9) · in a Bollinger Band volatility squeeze · trendless / choppy (low ADX) | Learn: moving average · golden cross · adx · rsi · macd · breakout · bollinger bands · volume and relative volume
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Key risks (from latest filing)
["Housing market fluctuations and interest rate changes impact development activity and home sales at Sky Ranch and other projects, reducing lot sales and tap fee revenue.","Dependence on continued development progress and timely delivery of infrastructure at Sky Ranch; delays could impair revenue recognition and cash flow.","Oil and gas royalty income volatility; declining energy commodity prices or production reductions could significantly reduce non-core revenue."]
What changed in the latest 10-Q
AI-assisted comparison of PCYO's 10-Q filed 2026-07-08 against the prior one filed 2026-04-08.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to Federal Reserve meetings in April and June 2026 (newer filing dated 2026-07-08)
- Added description of military conflict between the United States and Iran as a geopolitical concern (newer filing)
- Added specific mortgage rate of 6.52% as of mid-June 2026 (newer filing)
- Added NAHB/Wells Fargo Housing Market Index reading of 35 in June 2026 and note of 26 consecutive months below breakeven (newer filing)
- Added statement that approximately 62% of builders offering sales incentives (newer filing)
- Added reference to Federal Reserve's Summary of Economic Projections released following June 2026 meeting (newer filing)
- Added details about nine of eighteen Federal Reserve participants projecting at least one rate increase before end of 2026 (newer filing)
- Added reference to median inflation projection raised to 3.6% from 2.7% in March (newer filing)
- Added reference to leadership transition at the Federal Reserve (newer filing)
- Removed:
- Removed reference to Federal Reserve having 'signaled the possibility of additional rate reduction in 2026' (older filing only)
- Removed phrase 'decade-plus of underproduction' - changed to 'a decade of underproduction' (older filing had 'decade-plus')
- Removed description of 'conflict in the Middle East' - replaced with 'military conflict between the United States and Iran' (older filing)
- Removed statement that 'median home prices beginning to decline in 2026 and home sales at their lowest levels' - replaced with more detailed spring recovery narrative (older filing)
- Reworded:
- Changed 'elevated energy costs' to 'elevated energy costs and heightened economic uncertainty' in geopolitical context (newer filing)
- Changed 'Since December, the Federal Reserve has paused its easing cycle and held rates steady at both its January and March 2026 meetings' to 'Since December 2025, the Federal Reserve has paused its easing cycle and held rates steady at its January, March, April and June 2026 meetings, leaving the target range for the federal funds rate at 3.50% to 3.75%' (newer filing)
- Changed expectation from 'moderate to lower demand' to 'moderate demand' throughout 2026 (newer filing)
- Changed description of housing market decline narrative to include spring stabilization: 'After home sales fell to their lowest levels since the 2008 financial crisis in early 2026, the spring selling season showed signs of stabilization' (newer filing)
- Changed '30-year fixed rate averaged approximately 6.11% as of mid-March 2026' to '6.52% as of mid-June 2026' (newer filing)
- Changed 'nearly two-thirds of builders continuing to offer sales incentives' to 'approximately 62% of builders continuing to offer sales incentives' (newer filing)
- Changed 'nearly two-thirds' to 'approximately 62%' for consistency (newer filing)
- Changed reference from 'Forward-Looking Statements' to 'Disclosure Regarding Forward-Looking Statements' in older filing heading
- Notes:
- Newer filing text appears truncated at end of document, potentially affecting completeness of comparison
- Older filing text also appears truncated, limiting full section comparison
Risk Factors
- Added:
- Forward-Looking Statements section added reference to 'laws and regulations' as factors impacting business (filed 2026-07-08)
- Balance Sheet now shows nine-month period ended May 31, 2026 compared to six-month period ended February 28, 2026 in prior filing
- Consolidated Statement of Income now presents 'Nine Months Ended' data for May 31, 2026 and May 31, 2025 (filed 2026-07-08)
- Three Months Ended May 31, 2026 financial data added showing comparison periods shifted from February 28, 2026 (filed 2026-07-08)
- Removed:
- Forward-Looking Statements reference to 'expected receipt of milestone and other payments and other demands' removed; simplified to 'expected receipt of milestone and other payments' (filed 2026-07-08)
- Balance Sheet comparison period changed from February 28, 2026 to August 31, 2025 as the prior year comparison
- Consolidated Statement of Income six-month period data for February 28, 2026 and February 28, 2025 removed
- Three Months Ended February 28, 2026 financial statements removed; replaced with May 31, 2026 data
- Reworded:
- Forward-Looking Statements: 'changed in interest rates, inflation, trade policies, tariffs, and other factors' (older) changed to 'changes in interest rates, inflation, trade policies, tariffs, laws and regulations, and other factors' (newer, filed 2026-07-08)
- Forward-Looking Statements: 'the Exchange Act' reference added parenthetical clarification to prior reference of 'Section 21E of the Securities Exchange Act of 1934, as amended' (filed 2026-07-08)
- Notes:
- The primary changes reflect normal progression of a quarterly report from Q1 (February 28, 2026) to Q2 (May 31, 2026) filing period
- Financial statement line items and figures changed due to different reporting periods and dates, not policy changes
- Item page number references shifted (Item 1a moved from page 31 to page 32; Item 2 from page 31 to page 32; Signatures from page 33 to page 34)
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
Most recent open-market transaction: 2025-11-17. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about PCYO's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding PCYO as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 1,940,956
- Reported value $20,787,640
reported quarterly holdings change (2026-03-31 → 2026-06-30): 1 new, 1 increased, 3 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about PCYO's institutional holders → See what each manager we track holds →
Short interest (FINRA)
PCYO had 486,726 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
PCYO had 2.02% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 6.1 days to cover at the same settlement.
- Reported short interest (shares) 486,726
- Short interest (% of shares outstanding) 2.02%
- Prior settlement (shares) 475,577
- Reported change 2.34%
- Days to cover (reported) 6.1
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- American States Water (AWR)
- California Water Service (CWT)
- Essential Utilities (WTRG)
- M.D.C. Holdings (MDC)
- Forestar Group (FOR)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does PURE CYCLE CORP (PCYO) do?
Pure Cycle Corporation is a Colorado-based company that builds and operates water and wastewater systems and infrastructure, generating recurring revenues from water and wastewater tap fees and operational activities. The company simultaneously develops residential real estate projects (including the Sky Ranch development), sells developable lots, and operates single-family rental units. It also receives income from oil and gas royalties on its mineral rights holdings.
What sector is PURE CYCLE CORP (PCYO) in?
PURE CYCLE CORP (PCYO) is classified in the Utilities sector. Its industry is Water utilities and land development. It trades on NASDAQ.
Who are PURE CYCLE CORP's (PCYO) competitors?
Notable peers of PURE CYCLE CORP (PCYO) include American States Water, California Water Service, Essential Utilities, M.D.C. Holdings and Forestar Group. This peer set is informational only — not financial advice.
Is PURE CYCLE CORP (PCYO) overbought or oversold right now?
PURE CYCLE CORP (PCYO) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 49, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on PCYO come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.