PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) shares traded down 4.5% on Tuesday . The company traded as low as $8.70 and last traded at $8.55. 862,231 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,841,942 shares. The stock had previously closed at $8.95.
Wall Street Analysts Forecast Growth
Several research firms have commented on PCT. Stifel Nicolaus upped their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 price target on shares of PureCycle Technologies in a research note on Tuesday, November 19th. Finally, TD Cowen boosted their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th.
Check Out Our Latest Report on PCT
PureCycle Technologies Price Performance
The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company's 50 day moving average is $10.53 and its 200 day moving average is $9.63. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -5.77 and a beta of 1.58.
Institutional Investors Weigh In On PureCycle Technologies
Institutional investors and hedge funds have recently bought and sold shares of the company. Miller Financial Services LLC bought a new position in PureCycle Technologies in the 4th quarter valued at about $137,000. Haven Private LLC bought a new position in PureCycle Technologies in the fourth quarter valued at approximately $387,000. Ethos Financial Group LLC acquired a new position in PureCycle Technologies during the fourth quarter valued at approximately $2,941,000. Raymond James Financial Inc. bought a new stake in PureCycle Technologies during the fourth quarter worth $1,415,000. Finally, Arizona State Retirement System boosted its holdings in shares of PureCycle Technologies by 6.1% in the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after purchasing an additional 2,033 shares in the last quarter. Institutional investors own 63.01% of the company's stock.
PureCycle Technologies Company Profile
(
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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