Q2 2024 EPS Estimates for PureCycle Technologies, Inc. Decreased by Roth Capital (NYSE:PCT)

PureCycle Technologies, Inc. (NYSE:PCT - Free Report) - Equities researchers at Roth Capital cut their Q2 2024 earnings estimates for PureCycle Technologies in a report issued on Wednesday, May 8th. Roth Capital analyst G. Sweeney now forecasts that the company will earn ($0.15) per share for the quarter, down from their previous estimate of ($0.12). The consensus estimate for PureCycle Technologies' current full-year earnings is ($0.53) per share. Roth Capital also issued estimates for PureCycle Technologies' Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.08) EPS and FY2024 earnings at ($0.60) EPS.

PureCycle Technologies Trading Down 0.8 %

NYSE:PCT traded down $0.04 during mid-day trading on Friday, hitting $4.84. 1,660,859 shares of the company's stock were exchanged, compared to its average volume of 2,483,416. PureCycle Technologies has a fifty-two week low of $2.38 and a fifty-two week high of $11.89. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $795.89 million, a P/E ratio of -7.39 and a beta of 1.60. The company has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $4.62.

PureCycle Technologies (NYSE:PCT - Get Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.08.

Institutional Trading of PureCycle Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Sylebra Capital LLC bought a new position in PureCycle Technologies during the 3rd quarter worth approximately $163,774,000. HighTower Advisors LLC lifted its holdings in PureCycle Technologies by 158.0% in the third quarter. HighTower Advisors LLC now owns 205,418 shares of the company's stock valued at $1,158,000 after buying an additional 125,801 shares during the period. Van ECK Associates Corp boosted its position in PureCycle Technologies by 63.4% during the third quarter. Van ECK Associates Corp now owns 465,106 shares of the company's stock valued at $2,609,000 after acquiring an additional 180,525 shares during the last quarter. SWS Partners grew its holdings in PureCycle Technologies by 21.2% during the 3rd quarter. SWS Partners now owns 622,905 shares of the company's stock worth $3,494,000 after acquiring an additional 108,837 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of PureCycle Technologies in the 3rd quarter worth about $85,000. 63.01% of the stock is currently owned by institutional investors.

Insider Activity

In other PureCycle Technologies news, Director Fernando Musa acquired 18,303 shares of PureCycle Technologies stock in a transaction that occurred on Friday, March 8th. The shares were bought 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 in the company, valued at approximately $373,534.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.09% 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.