PureCycle Technologies (NYSE:PCT) Trading Down 4.9%

PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report)'s share price was down 4.9% on Monday . The stock traded as low as $5.34 and last traded at $5.39. Approximately 963,555 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 2,649,095 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

Several research firms have commented on PCT. Roth Mkm lowered shares of PureCycle Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the company from $6.00 to $3.00 in a report on Tuesday, December 19th. Craig Hallum lowered shares of PureCycle Technologies from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a report on Wednesday, January 3rd. Finally, Roth Capital lowered shares of PureCycle Technologies from a "buy" rating to a "neutral" rating in a report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, PureCycle Technologies currently has a consensus rating of "Hold" and an average price target of $7.75.

PureCycle Technologies Stock Down 6.5 %

The company has a market capitalization of $871.53 million, a P/E ratio of -8.03 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92. The firm's fifty day moving average is $5.55 and its 200-day moving average is $4.62.

PureCycle Technologies (NYSE:PCT - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.08. As a group, equities research analysts predict that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling

In other PureCycle Technologies news, Director Fernando Musa bought 18,303 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the transaction, the director now directly owns 68,413 shares in the company, valued at $373,534.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its position in shares of PureCycle Technologies by 20.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,595 shares of the company's stock valued at $103,000 after acquiring an additional 1,625 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of PureCycle Technologies by 5.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 34,163 shares of the company's stock valued at $273,000 after acquiring an additional 1,890 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of PureCycle Technologies by 18.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 14,679 shares of the company's stock valued at $103,000 after acquiring an additional 2,293 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of PureCycle Technologies by 6.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 42,658 shares of the company's stock valued at $288,000 after acquiring an additional 2,575 shares during the period. Finally, Sovereign Financial Group Inc. lifted its position in shares of PureCycle Technologies by 11.0% during the 4th quarter. Sovereign Financial Group Inc. now owns 26,700 shares of the company's stock valued at $108,000 after acquiring an additional 2,652 shares during the period. Institutional investors and hedge funds 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.