PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report) was the recipient of unusually large options trading on Thursday. Traders acquired 16,675 call options on the stock. This represents an increase of approximately 116% compared to the typical volume of 7,735 call options.
Insider Buying and Selling
In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company's stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 11.44% of the stock is owned by company insiders.
Hedge Funds Weigh In On PureCycle Technologies
Several institutional investors and hedge funds have recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in PureCycle Technologies during the 1st quarter worth approximately $67,000. Algert Global LLC acquired a new stake in PureCycle Technologies in the 2nd quarter worth about $69,000. Tidal Investments LLC acquired a new stake in PureCycle Technologies during the first quarter worth approximately $70,000. Bayesian Capital Management LP bought a new position in shares of PureCycle Technologies in the first quarter worth $98,000. Finally, Prospera Private Wealth LLC acquired a new position in PureCycle Technologies in the first quarter valued at about $104,000. Institutional investors and hedge funds own 63.01% of the company's stock.
PureCycle Technologies Price Performance
Shares of PureCycle Technologies stock traded up $3.26 on Thursday, reaching $14.30. The stock had a trading volume of 14,410,901 shares, compared to its average volume of 2,315,648. PureCycle Technologies has a fifty-two week low of $2.38 and a fifty-two week high of $14.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.54. The business's 50-day moving average price is $7.98 and its two-hundred day moving average price is $6.51.
PureCycle Technologies (NYSE:PCT - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.13). Sell-side analysts forecast that PureCycle Technologies will post -0.98 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on PureCycle Technologies in a research note on Friday, October 18th. They set an "overweight" rating and a $14.00 target price for the company. Craig Hallum raised their target price on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. TD Cowen lifted their price objective on PureCycle Technologies from $7.50 to $10.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus increased their price objective 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.20.
Read Our Latest Report on PCT
PureCycle Technologies Company Profile
(
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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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