PureCycle Technologies (NASDAQ:PCT) Trading 3.9% Higher - Time to Buy?

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) was up 3.9% during mid-day trading on Tuesday . The company traded as high as $7.50 and last traded at $7.75. Approximately 220,677 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,197,095 shares. The stock had previously closed at $7.46.

PureCycle Technologies Stock Performance

The stock's fifty day moving average price is $9.04 and its two-hundred day moving average price is $10.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The company has a market cap of $1.39 billion, a P/E ratio of -5.18 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, equities analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.44% of the stock is owned by insiders.

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Institutional Trading of PureCycle Technologies

Large investors have recently bought and sold shares of the company. Highview Capital Management LLC DE bought a new stake in PureCycle Technologies during the fourth quarter valued at $324,000. Sylebra Capital LLC raised its holdings in shares of PureCycle Technologies by 14.6% during the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company's stock valued at $317,848,000 after acquiring an additional 4,264,393 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in PureCycle Technologies in the third quarter worth $485,000. Drive Wealth Management LLC grew its stake in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after purchasing an additional 272,527 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of PureCycle Technologies by 77.2% in the third quarter. Sanctuary Advisors LLC now owns 206,339 shares of the company's stock worth $1,960,000 after acquiring an additional 89,875 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

About PureCycle Technologies

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.