PureCycle Technologies (NYSE:PCT) Trading Down 3%

PureCycle Technologies, Inc. (NYSE:PCT) shares dropped 3% during trading on Wednesday . The company traded as low as $5.37 and last traded at $5.54. Approximately 497,712 shares were traded during trading, a decline of 78% from the average daily volume of 2,237,340 shares. The stock had previously closed at $5.71.

Analyst Upgrades and Downgrades

PCT has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 target price on shares of PureCycle Technologies in a research note on Wednesday. TD Cowen upped their target price on PureCycle Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.90.

PureCycle Technologies Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $898.88 million, a PE ratio of -5.35 and a beta of 1.63. The business has a fifty day moving average of $5.44 and a 200-day moving average of $4.98.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.10). Equities research analysts anticipate that PureCycle Technologies, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of PureCycle Technologies

Large investors have recently modified their holdings of the company. Forum Financial Management LP boosted its holdings in shares of PureCycle Technologies by 170.0% in the fourth quarter. Forum Financial Management LP now owns 270,000 shares of the company’s stock valued at $1,094,000 after purchasing an additional 170,000 shares during the period. SWS Partners lifted its holdings in PureCycle Technologies by 40.9% during the fourth quarter. SWS Partners now owns 877,924 shares of the company’s stock worth $3,556,000 after buying an additional 255,019 shares during the period. Sylebra Capital LLC purchased a new stake in PureCycle Technologies during the third quarter worth $163,774,000. Sierra Summit Advisors LLC purchased a new stake in PureCycle Technologies during the fourth quarter worth $964,000. Finally, Wealthsource Partners LLC lifted its holdings in PureCycle Technologies by 5.3% during the fourth quarter. Wealthsource Partners LLC now owns 89,282 shares of the company’s stock worth $362,000 after buying an additional 4,488 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.