PureCycle Technologies (NYSE:PCT) Trading 9.1% Higher

PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report)'s share price was up 9.1% during trading on Monday . The stock traded as high as $5.28 and last traded at $5.28. Approximately 801,961 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 2,464,681 shares. The stock had previously closed at $4.84.

PureCycle Technologies Stock Up 9.1 %

The stock has a market capitalization of $869.25 million, a price-to-earnings ratio of -5.08 and a beta of 1.60. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $5.43 and a 200 day moving average price of $4.62.

PureCycle Technologies (NYSE:PCT - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.08. As a group, analysts forecast that PureCycle Technologies, Inc. will post -0.66 EPS for the current year.

Insider Activity at PureCycle Technologies

In related news, Director Fernando Musa acquired 18,303 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost 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 $373,534.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PureCycle Technologies

A number of hedge funds have recently bought and sold shares of PCT. Sylebra Capital LLC acquired a new stake in PureCycle Technologies during the 3rd quarter worth about $163,774,000. HighTower Advisors LLC increased 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 worth $1,158,000 after purchasing an additional 125,801 shares in the last quarter. Van ECK Associates Corp lifted its stake in PureCycle Technologies by 63.4% in the third quarter. Van ECK Associates Corp now owns 465,106 shares of the company's stock valued at $2,609,000 after buying an additional 180,525 shares during the period. SWS Partners lifted its stake in PureCycle Technologies by 21.2% in the third quarter. SWS Partners now owns 622,905 shares of the company's stock valued at $3,494,000 after buying an additional 108,837 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of PureCycle Technologies during the 3rd quarter worth approximately $85,000. Institutional investors own 63.01% of the company's stock.

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.

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