PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) was down 5.1% during trading on Thursday . The stock traded as low as $9.69 and last traded at $9.73. Approximately 1,615,767 shares changed hands during trading, a decline of 35% from the average daily volume of 2,467,168 shares. The stock had previously closed at $10.25.
Analyst Upgrades and Downgrades
Separately, TD Cowen cut their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, May 8th.
Read Our Latest Stock Report on PCT
PureCycle Technologies Price Performance
The company has a market cap of $1.67 billion, a price-to-earnings ratio of -6.20 and a beta of 1.68. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company has a fifty day moving average price of $7.31 and a two-hundred day moving average price of $9.15.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to analysts' expectations of $4.27 million. As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.
Institutional Investors Weigh In On PureCycle Technologies
Institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in PureCycle Technologies during the 1st quarter valued at $25,000. Jones Financial Companies Lllp raised its holdings in shares of PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after buying an additional 2,291 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares during the last quarter. CWM LLC lifted its position in PureCycle Technologies by 158.7% during the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock worth $34,000 after buying an additional 3,043 shares in the last quarter. Finally, US Bancorp DE increased its position in PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after acquiring an additional 2,019 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.
PureCycle Technologies Company Profile
(
Get Free Report)
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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