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.
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