PureCycle Technologies (NYSE:PCT) Trading Down 4%

view original post

PureCycle Technologies, Inc. (NYSE:PCTGet Rating)’s stock price fell 4% during mid-day trading on Tuesday . The company traded as low as $8.00 and last traded at $8.00. 1,521 shares were traded during mid-day trading, a decline of 100% from the average session volume of 1,085,711 shares. The stock had previously closed at $8.33.

A number of research firms recently weighed in on PCT. Oppenheimer reaffirmed a “buy” rating and set a $16.00 price target on shares of PureCycle Technologies in a research note on Thursday, April 14th. Craig Hallum reduced their price objective on PureCycle Technologies from $26.00 to $18.00 in a report on Thursday, March 10th.

The company has a debt-to-equity ratio of 0.41, a quick ratio of 19.10 and a current ratio of 19.10. The business’s 50-day moving average price is $8.49 and its 200-day moving average price is $8.29.

PureCycle Technologies (NYSE:PCTGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. On average, sell-side analysts forecast that PureCycle Technologies, Inc. will post -0.65 earnings per share for the current year.

In related news, insider David Warner Brenner sold 225,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $7.86, for a total value of $1,768,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey Richard Fieler purchased 714,284 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was bought at an average price of $7.00 per share, with a total value of $4,999,988.00. The disclosure for this purchase can be found here. 11.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in shares of PureCycle Technologies in the 3rd quarter valued at approximately $28,000. Cubist Systematic Strategies LLC bought a new position in PureCycle Technologies in the third quarter valued at about $29,000. Citigroup Inc. lifted its stake in PureCycle Technologies by 139.6% in the third quarter. Citigroup Inc. now owns 3,755 shares of the company’s stock valued at $50,000 after buying an additional 2,188 shares during the period. Tyler Stone Wealth Management raised its position in shares of PureCycle Technologies by 8,544.0% during the first quarter. Tyler Stone Wealth Management now owns 8,644 shares of the company’s stock worth $69,000 after purchasing an additional 8,544 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in PureCycle Technologies in the first quarter valued at approximately $81,000. Hedge funds and other institutional investors own 40.86% of the company’s stock.

About PureCycle Technologies (NYSE:PCT)

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for PureCycle Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PureCycle Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.