Shares of PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $12.31 and last traded at $12.31, with a volume of 1565952 shares. The stock had previously closed at $11.04.
Analysts Set New Price Targets
Several brokerages have recently weighed in on PCT. Stifel Nicolaus lifted their target price on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Monday, August 12th. TD Cowen boosted their target price on shares of PureCycle Technologies from $7.50 to $10.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Cantor Fitzgerald started coverage on PureCycle Technologies in a report on Friday, October 18th. They issued an "overweight" rating and a $14.00 price target on the stock. Finally, Craig Hallum upped their target price on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, PureCycle Technologies has a consensus rating of "Hold" and an average price target of $8.20.
Check Out Our Latest Stock Report on PCT
PureCycle Technologies Price Performance
The company has a 50-day moving average of $7.98 and a 200-day moving average of $6.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54.
PureCycle Technologies (NYSE:PCT - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Equities analysts forecast that PureCycle Technologies, Inc. will post -0.98 EPS for the current year.
Insider Buying and Selling at PureCycle Technologies
In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of PureCycle Technologies stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company's stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.44% of the company's stock.
Hedge Funds Weigh In On PureCycle Technologies
Hedge funds have recently modified their holdings of the stock. Longview Asset Management LLC acquired a new position in PureCycle Technologies during the second quarter valued at approximately $57,521,000. Abundance Wealth Counselors boosted its holdings in shares of PureCycle Technologies by 21.0% in the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company's stock valued at $42,185,000 after buying an additional 1,178,570 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of PureCycle Technologies in the 2nd quarter valued at approximately $3,121,000. Sanctuary Advisors LLC bought a new position in shares of PureCycle Technologies in the second quarter valued at $689,000. Finally, Long Focus Capital Management LLC increased its holdings in PureCycle Technologies by 3.2% during the second quarter. Long Focus Capital Management LLC now owns 2,403,781 shares of the company's stock worth $14,230,000 after buying an additional 75,000 shares during the last quarter. Institutional investors own 63.01% of the company's stock.
About PureCycle Technologies
(
Get Free Report)
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.
Further Reading
Before you consider PureCycle Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PureCycle Technologies wasn't on the list.
While PureCycle Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
