PureCycle Technologies (NASDAQ:PCT) Trading Up 13.8% - What's Next?

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report)'s stock price rose 13.8% during mid-day trading on Tuesday . The stock traded as high as $6.25 and last traded at $6.34. Approximately 531,888 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 2,301,014 shares. The stock had previously closed at $5.57.

PureCycle Technologies Stock Down 0.2 %

The business has a fifty day moving average of $7.64 and a 200 day moving average of $9.83. 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 firm has a market cap of $1.23 billion, a P/E ratio of -4.56 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). On average, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares of the company's stock, valued at $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.67% of the company's stock.

Hedge Funds Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. bought a new position in PureCycle Technologies during the 1st quarter worth about $25,000. Jones Financial Companies Lllp grew its holdings in shares of PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock worth $32,000 after buying an additional 2,291 shares in the last quarter. Sterling Capital Management LLC lifted its stake in PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after acquiring an additional 2,861 shares in the last quarter. US Bancorp DE boosted its position in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $41,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

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.