Investors Purchase High Volume of Call Options on PureCycle Technologies (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) was the recipient of some unusual options trading on Monday. Investors acquired 9,502 call options on the stock. This represents an increase of 38% compared to the average volume of 6,879 call options.

Insider Activity

In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the transaction, the insider now directly owns 34,077,574 shares of the company's stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.67% of the company's stock.

Hedge Funds Weigh In On PureCycle Technologies

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in PureCycle Technologies by 0.8% in the third quarter. State Street Corp now owns 2,809,178 shares of the company's stock valued at $26,687,000 after acquiring an additional 21,706 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PureCycle Technologies by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company's stock valued at $29,688,000 after purchasing an additional 92,469 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of PureCycle Technologies by 215.5% during the 3rd quarter. Tidal Investments LLC now owns 37,223 shares of the company's stock valued at $354,000 after buying an additional 25,424 shares in the last quarter. ORG Wealth Partners LLC lifted its position in PureCycle Technologies by 27.8% in the 4th quarter. ORG Wealth Partners LLC now owns 26,209 shares of the company's stock worth $269,000 after buying an additional 5,697 shares during the last quarter. Finally, Bar Harbor Wealth Management bought a new stake in PureCycle Technologies in the 4th quarter worth approximately $154,000. Institutional investors own 63.01% of the company's stock.

PureCycle Technologies Price Performance

NASDAQ:PCT traded down $0.11 during trading hours on Friday, hitting $6.74. 1,370,440 shares of the company's stock traded hands, compared to its average volume of 2,347,376. The firm has a market cap of $1.21 billion, a P/E ratio of -4.49 and a beta of 1.68. 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 business's fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $9.81. PureCycle Technologies has a 52 week low of $4.50 and a 52 week high of $15.58.

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

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.