PureCycle Technologies (NYSE:PCT) Trading Down 2.8%

Shares of PureCycle Technologies, Inc. (NYSE:PCT - Get Free Report) traded down 2.8% during trading on Monday . The stock traded as low as $4.84 and last traded at $4.84. 109,781 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 2,490,646 shares. The stock had previously closed at $4.98.

Analyst Upgrades and Downgrades

Separately, Craig Hallum cut PureCycle Technologies from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research note on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, PureCycle Technologies has an average rating of "Hold" and an average price target of $7.75.

PureCycle Technologies Stock Performance

The stock has a 50 day simple moving average of $5.58 and a two-hundred day simple moving average of $4.60. The company has a market capitalization of $815.62 million, a price-to-earnings ratio of -7.56 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92.

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

Insider Activity

In related news, Director Fernando Musa purchased 18,303 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the purchase, the director now directly owns 68,413 shares of the company's stock, valued at $373,534.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.09% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. increased its holdings in shares of PureCycle Technologies by 11.0% in 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. Victory Capital Management Inc. boosted its stake in shares of PureCycle Technologies by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company's stock worth $69,000 after buying an additional 3,128 shares during the period. Venture Visionary Partners LLC grew its holdings in shares of PureCycle Technologies by 4.8% during the fourth quarter. Venture Visionary Partners LLC now owns 68,306 shares of the company's stock worth $277,000 after buying an additional 3,145 shares during the last quarter. Sigma Planning Corp raised its stake in PureCycle Technologies by 16.7% during the 3rd quarter. Sigma Planning Corp now owns 22,507 shares of the company's stock valued at $126,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in PureCycle Technologies by 28.0% during the 3rd quarter. Principal Financial Group Inc. now owns 16,191 shares of the company's stock valued at $91,000 after acquiring an additional 3,546 shares during the last quarter. 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.