PureCycle Technologies (NYSE:PCT) Stock Price Up 4%

PureCycle Technologies, Inc. (NYSE:PCT)’s stock price traded up 4% during mid-day trading on Thursday . The company traded as high as $6.29 and last traded at $6.29. 112,249 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 2,815,802 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Craig Hallum downgraded PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Wednesday, January 3rd. Roth Mkm downgraded PureCycle Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.00 to $3.00 in a research note on Tuesday, December 19th. Finally, Roth Capital downgraded PureCycle Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PureCycle Technologies has a consensus rating of “Hold” and an average target price of $7.75.

PureCycle Technologies Trading Up 3.1 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.17 and a beta of 1.51. The company has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.69.

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

Insider Buying and Selling

In other news, Director Fernando Musa purchased 18,303 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the completion of the transaction, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.44% of the stock is owned by company insiders.

Institutional Trading of PureCycle Technologies

Several large investors have recently added to or reduced their stakes in PCT. Envestnet Asset Management Inc. purchased a new stake in PureCycle Technologies in the 1st quarter valued at $81,000. Advisor Group Holdings Inc. lifted its stake in shares of PureCycle Technologies by 53.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 18,998 shares of the company’s stock valued at $153,000 after purchasing an additional 6,623 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at $83,000. JPMorgan Chase & Co. lifted its stake in shares of PureCycle Technologies by 21.5% in the 1st quarter. JPMorgan Chase & Co. now owns 49,391 shares of the company’s stock valued at $395,000 after purchasing an additional 8,743 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of PureCycle Technologies by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 200,692 shares of the company’s stock valued at $1,605,000 after purchasing an additional 8,096 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.