PureCycle Technologies (NYSE:PCT) Shares Down 3.7%

PureCycle Technologies, Inc. (NYSE:PCTGet Free Report) fell 3.7% on Friday . The stock traded as low as $4.75 and last traded at $4.75. 1,433,888 shares traded hands during trading, a decline of 56% from the average session volume of 3,295,168 shares. The stock had previously closed at $4.93.

Analyst Ratings Changes

Several brokerages recently issued reports on PCT. Stifel Nicolaus reduced their target price on PureCycle Technologies from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Roth Mkm lowered PureCycle Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Tuesday, December 19th. Craig Hallum lowered PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Wednesday, January 3rd. Oppenheimer lowered PureCycle Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, November 9th. Finally, Roth Capital lowered PureCycle Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Hold” and an average target price of $7.75.

Get Our Latest Stock Analysis on PCT

PureCycle Technologies Trading Down 3.4 %

The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average price of $3.84 and a two-hundred day moving average price of $5.72.

PureCycle Technologies (NYSE:PCTGet Free Report) last issued its earnings results on Thursday, November 9th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). Research analysts anticipate that PureCycle Technologies, Inc. will post -0.7 EPS for the current year.

Insider Transactions at PureCycle Technologies

In related news, Chairman Daniel M. Coombs bought 30,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $118,500.00. Following the completion of the purchase, the chairman now directly owns 96,695 shares of the company’s stock, valued at $381,945.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Daniel M. Coombs bought 30,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $118,500.00. Following the completion of the purchase, the chairman now directly owns 96,695 shares of the company’s stock, valued at $381,945.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven F. Bouck bought 8,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $3.90 per share, for a total transaction of $31,200.00. Following the purchase, the director now directly owns 41,640 shares of the company’s stock, valued at $162,396. The disclosure for this purchase can be found here. Insiders have purchased 63,779 shares of company stock worth $249,723 over the last quarter. 11.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PureCycle Technologies

A number of hedge funds have recently bought and sold shares of PCT. Envestnet Asset Management Inc. purchased a new position in PureCycle Technologies during the first quarter worth approximately $81,000. Advisor Group Holdings Inc. boosted its position in PureCycle Technologies by 53.5% during the first quarter. Advisor Group Holdings Inc. now owns 18,998 shares of the company’s stock worth $153,000 after purchasing an additional 6,623 shares in the last quarter. Principal Financial Group Inc. purchased a new position in PureCycle Technologies during the first quarter worth approximately $83,000. JPMorgan Chase & Co. lifted its position in shares of PureCycle Technologies by 21.5% in the first quarter. JPMorgan Chase & Co. now owns 49,391 shares of the company’s stock valued at $395,000 after acquiring an additional 8,743 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of PureCycle Technologies by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 200,692 shares of the company’s stock valued at $1,605,000 after acquiring an additional 8,096 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

PureCycle Technologies Company Profile

(Get Free Report)

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. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.

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