PureCycle Technologies (NYSE:PCT) Trading Down 4.9%

PureCycle Technologies, Inc. (NYSE:PCT)’s share price traded down 4.9% during trading on Monday . The stock traded as low as $5.34 and last traded at $5.39. 963,555 shares were traded during trading, a decline of 64% from the average session volume of 2,649,095 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Craig Hallum cut PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Wednesday, January 3rd. Roth Mkm cut PureCycle Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.00 to $3.00 in a research report on Tuesday, December 19th. Finally, Roth Capital cut PureCycle Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.75.

PureCycle Technologies Stock Performance

The business has a fifty day simple moving average of $5.56 and a two-hundred day simple moving average of $4.62. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92.

PureCycle Technologies (NYSE:PCT) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. On average, equities analysts predict that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current year.

Insider Transactions at PureCycle Technologies

In related news, Director Fernando Musa acquired 18,303 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $5.46 per share, with a total value of $99,934.38. Following the completion of the purchase, the director now directly owns 68,413 shares of the company’s stock, valued at $373,534.98. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company’s stock.

Institutional Trading of PureCycle Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCT. Vanguard Group Inc. grew its holdings in PureCycle Technologies by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,648,342 shares of the company’s stock valued at $51,226,000 after buying an additional 115,545 shares in the last quarter. Virtu Financial LLC purchased a new position in PureCycle Technologies during the 4th quarter valued at approximately $202,000. Sierra Summit Advisors LLC purchased a new position in PureCycle Technologies during the 4th quarter valued at approximately $964,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PureCycle Technologies by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,896 shares of the company’s stock worth $332,000 after purchasing an additional 8,843 shares during the period. Finally, DRW Securities LLC purchased a new position in shares of PureCycle Technologies in the 4th quarter worth approximately $80,000. Institutional investors own 63.01% of the company’s stock.

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.