Pico Holdings Inc (NASDAQ:PICO) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 236,400 shares, a decrease of 8.0% from the September 30th total of 257,000 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is currently 4.9 days. Approximately 1.2% of the shares of the company are short sold.
Separately, TheStreet downgraded shares of Pico from a “c+” rating to a “d+” rating in a report on Monday, August 19th.
In related news, Director Eric H. Speron purchased 4,305 shares of Pico stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $10.49 per share, for a total transaction of $45,159.45. Following the completion of the transaction, the director now owns 65,305 shares in the company, valued at $685,049.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is currently owned by corporate insiders.
NASDAQ PICO traded down $0.02 during trading on Monday, hitting $10.63. 40,000 shares of the company’s stock traded hands, compared to its average volume of 63,907. Pico has a 12-month low of $8.85 and a 12-month high of $11.82. The business has a 50 day moving average of $10.37 and a 200-day moving average of $10.59.
Pico Company Profile
PICO Holdings, Inc, together with its subsidiaries, engages in the water resource and water storage activities in the southwestern United States. It engages in selling its water rights and storage credits in Arizona, Colorado, Nevada, and New Mexico. The Company sells its water rights to real estate developers, power generating facilities, or other commercial and industrial users, as well as to water utilities, municipalities, and other government agencies; and sells its stored water to state agencies, commercial developers, or municipalities for their commercial projects or communities.
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