PureCycle Technologies, Inc. (NYSE:PCT – Get Free Report)’s share price was up 8.1% during mid-day trading on Thursday . The stock traded as high as $5.14 and last traded at $5.05. Approximately 708,147 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,476,595 shares. The stock had previously closed at $4.67.
Wall Street Analyst Weigh In
Separately, Craig Hallum downgraded shares of PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.75.
Check Out Our Latest Research Report on PCT
PureCycle Technologies Price Performance
PureCycle Technologies (NYSE:PCT – Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.
Insider Activity at PureCycle Technologies
In other news, Director Fernando Musa acquired 18,303 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $5.46 per share, with a total value of $99,934.38. Following the completion of the purchase, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.44% of the stock is currently owned by insiders.
Hedge Funds Weigh In On PureCycle Technologies
Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in PureCycle Technologies in the 3rd quarter valued at about $75,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of PureCycle Technologies by 9.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 147,612 shares of the company’s stock valued at $828,000 after purchasing an additional 12,817 shares in the last quarter. Raymond James & Associates increased its holdings in shares of PureCycle Technologies by 12.2% in the third quarter. Raymond James & Associates now owns 41,360 shares of the company’s stock valued at $232,000 after purchasing an additional 4,500 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in PureCycle Technologies by 104.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 38,065 shares of the company’s stock worth $214,000 after purchasing an additional 19,410 shares during the last quarter. Finally, Claybrook Capital LLC lifted its holdings in PureCycle Technologies by 12.6% during the 3rd quarter. Claybrook Capital LLC now owns 34,500 shares of the company’s stock worth $194,000 after buying an additional 3,850 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.
About PureCycle Technologies
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.
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