PureCycle Technologies (NASDAQ:PCT) Shares Gap Down – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $6.50, but opened at $6.08. PureCycle Technologies shares last traded at $5.91, with a volume of 510,677 shares changing hands.

PureCycle Technologies Price Performance

The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $8.22 and its two-hundred day moving average price is $10.08. The stock has a market cap of $1.03 billion, a PE ratio of -3.84 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, equities analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm’s 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 purchase, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.44% of the stock is currently owned by corporate insiders.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in shares of PureCycle Technologies in the first quarter worth $25,000. Jones Financial Companies Lllp lifted its position in PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after purchasing an additional 2,291 shares during the period. Sterling Capital Management LLC boosted its holdings in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after purchasing an additional 2,861 shares during the last quarter. US Bancorp DE grew 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 purchasing an additional 2,019 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of PureCycle Technologies during the 4th quarter valued at about $80,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.