Shares of PureCycle Technologies, Inc. (NYSE:PCT – Get Rating) traded down 4.4% during mid-day trading on Friday . The company traded as low as $7.31 and last traded at $7.40. 1,635 shares were traded during trading, a decline of 100% from the average session volume of 1,144,931 shares. The stock had previously closed at $7.74.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Cowen reduced their price target on shares of PureCycle Technologies from $15.00 to $11.00 and set an "outperform" rating for the company in a research report on Friday, November 11th. Stifel Nicolaus began coverage on shares of PureCycle Technologies in a research report on Thursday, September 15th. They set a "buy" rating and a $15.00 price target for the company.
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PureCycle Technologies Stock Performance
The company has a current ratio of 7.01, a quick ratio of 7.01 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average price is $6.64 and its two-hundred day moving average price is $7.79. The firm has a market capitalization of $1.27 billion, a PE ratio of -12.29 and a beta of 0.74.
PureCycle Technologies (NYSE:PCT – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.09). On average, equities analysts expect that PureCycle Technologies, Inc. will post -0.59 earnings per share for the current year.
Institutional Trading of PureCycle Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of PCT. Amalgamated Bank purchased a new stake in PureCycle Technologies in the 1st quarter worth approximately $70,000. Envestnet Asset Management Inc. purchased a new stake in PureCycle Technologies in the 1st quarter worth approximately $81,000. Principal Financial Group Inc. purchased a new stake in PureCycle Technologies in the 1st quarter worth approximately $83,000. Victory Capital Management Inc. purchased a new stake in PureCycle Technologies in the 3rd quarter worth approximately $97,000. Finally, Sigma Planning Corp purchased a new stake in shares of PureCycle Technologies during the 3rd quarter valued at $103,000. 83.82% of the stock is owned by hedge funds and other institutional investors.
About PureCycle Technologies
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PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.
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