PureCycle Technologies (NYSE:PCT) Shares Gap Down to $5.17

PureCycle Technologies, Inc. (NYSE:PCT) gapped down prior to trading on Tuesday . The stock had previously closed at $5.17, but opened at $4.95. PureCycle Technologies shares last traded at $5.23, with a volume of 263,692 shares trading hands.

PureCycle Technologies Price Performance

The company has a market capitalization of $804.11 million, a PE ratio of -7.29 and a beta of 1.60. 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 stock’s 50 day simple moving average is $5.51 and its 200-day simple moving average is $4.61.

PureCycle Technologies (NYSE:PCT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. As a group, equities analysts forecast that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PureCycle Technologies news, Director Fernando Musa acquired 18,303 shares of the stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $5.46 per share, with a total value of $99,934.38. Following the transaction, the director now owns 68,413 shares in the company, valued at approximately $373,534.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On PureCycle Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. VitalStone Financial LLC increased its holdings in shares of PureCycle Technologies by 163.9% in the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock valued at $38,000 after acquiring an additional 5,900 shares during the period. RIA Advisory Group LLC acquired a new position in PureCycle Technologies in the fourth quarter valued at $40,000. Symphony Financial Ltd. Co. purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $43,000. National Bank of Canada FI grew its holdings in shares of PureCycle Technologies by 45.8% during the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock worth $52,000 after buying an additional 4,388 shares during the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in PureCycle Technologies in the 4th quarter valued at about $53,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.