PureCycle Technologies (NYSE:PCT) Trading 5% Higher

Shares of PureCycle Technologies, Inc. (NYSE:PCT) rose 5% during mid-day trading on Wednesday . The company traded as high as $9.38 and last traded at $9.25. Approximately 463,788 shares traded hands during trading, a decline of 80% from the average daily volume of 2,276,304 shares. The stock had previously closed at $8.81.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, August 12th. TD Cowen raised their price target on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Craig Hallum boosted their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

PureCycle Technologies Stock Up 3.2 %

The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -9.14 and a beta of 1.60. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average is $7.01 and its two-hundred day moving average is $6.08.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). Equities analysts anticipate that PureCycle Technologies, Inc. will post -0.85 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.44% of the stock is owned by insiders.

Hedge Funds Weigh In On PureCycle Technologies

Several hedge funds have recently bought and sold shares of PCT. First National Bank of Omaha grew its stake in shares of PureCycle Technologies by 1.0% in the fourth quarter. First National Bank of Omaha now owns 464,053 shares of the company’s stock worth $1,879,000 after acquiring an additional 4,395 shares in the last quarter. Platform Technology Partners grew its stake in PureCycle Technologies by 302.1% during the 4th quarter. Platform Technology Partners now owns 130,549 shares of the company’s stock worth $529,000 after purchasing an additional 98,084 shares in the last quarter. VitalStone Financial LLC increased its holdings in PureCycle Technologies by 163.9% during the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after purchasing an additional 5,900 shares during the period. Sierra Summit Advisors LLC acquired a new stake in PureCycle Technologies in the 4th quarter valued at about $964,000. Finally, Virtu Financial LLC purchased a new position in shares of PureCycle Technologies in the 4th quarter valued at about $202,000. Institutional investors and hedge funds 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.