PureCycle Technologies (NYSE:PCT) Trading Down 2.8%

PureCycle Technologies, Inc. (NYSE:PCT)’s share price was down 2.8% during trading on Monday . The company traded as low as $4.84 and last traded at $4.84. Approximately 109,781 shares traded hands during trading, a decline of 96% from the average daily volume of 2,490,646 shares. The stock had previously closed at $4.98.

Analyst Ratings Changes

Separately, Craig Hallum downgraded PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.75.

PureCycle Technologies Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92. The company’s 50 day moving average is $5.58 and its 200 day moving average is $4.60.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. On average, research analysts forecast that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fernando Musa purchased 18,303 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $5.46 per share, for a total transaction of $99,934.38. Following the transaction, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PCT. Commonwealth Equity Services LLC acquired a new position in shares of PureCycle Technologies during the 3rd quarter valued at $75,000. Cambridge Investment Research Advisors Inc. raised its holdings in PureCycle Technologies by 9.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 147,612 shares of the company’s stock worth $828,000 after buying an additional 12,817 shares during the last quarter. Raymond James & Associates raised its holdings in PureCycle Technologies by 12.2% during the third quarter. Raymond James & Associates now owns 41,360 shares of the company’s stock worth $232,000 after buying an additional 4,500 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in PureCycle Technologies by 104.0% during the third quarter. Stratos Wealth Partners LTD. now owns 38,065 shares of the company’s stock worth $214,000 after buying an additional 19,410 shares during the last quarter. Finally, Claybrook Capital LLC raised its holdings in PureCycle Technologies by 12.6% during the third quarter. Claybrook Capital LLC now owns 34,500 shares of the company’s stock worth $194,000 after buying an additional 3,850 shares during the last quarter. 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.