PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) Director Fernando Musa purchased 15,479 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average cost of $6.38 per share, with a total value of $98,756.02. Following the completion of the acquisition, the director owned 175,983 shares in the company, valued at $1,122,771.54. The trade was a 9.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
PureCycle Technologies Stock Up 1.9%
PCT opened at $6.51 on Wednesday. The stock has a fifty day moving average of $6.76 and a 200-day moving average of $7.67. The company has a market capitalization of $1.31 billion, a P/E ratio of -4.46 and a beta of 2.57. PureCycle Technologies, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $15.49. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.51). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The business had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. On average, equities analysts expect that PureCycle Technologies, Inc. will post -0.9 EPS for the current year.
Analysts Set New Price Targets
PCT has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of PureCycle Technologies in a research report on Wednesday, September 2nd. Alembic Global Advisors set a $16.00 price target on PureCycle Technologies in a research report on Tuesday, June 16th. Cantor Fitzgerald dropped their price objective on PureCycle Technologies from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Finally, Northland Securities set a $13.00 target price on PureCycle Technologies in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.75.
Read Our Latest Research Report on PCT
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PCT. Quantinno Capital Management LP lifted its stake in shares of PureCycle Technologies by 707.8% in the first quarter. Quantinno Capital Management LP now owns 428,534 shares of the company's stock worth $2,224,000 after acquiring an additional 375,486 shares during the period. SWS Partners acquired a new stake in PureCycle Technologies during the 2nd quarter valued at approximately $11,637,000. PNC Financial Services Group Inc. increased its position in PureCycle Technologies by 18.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,445,556 shares of the company's stock valued at $7,502,000 after purchasing an additional 222,996 shares during the period. Drive Wealth Management LLC bought a new position in PureCycle Technologies during the 4th quarter worth approximately $2,180,000. Finally, Ethos Financial Group LLC raised its holdings in PureCycle Technologies by 27.9% during the 1st quarter. Ethos Financial Group LLC now owns 711,913 shares of the company's stock worth $3,602,000 after purchasing an additional 155,140 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.
PureCycle Technologies Company Profile
(
Get Free Report)
PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.
Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.
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