PureCycle Technologies (NASDAQ:PCT) Trading Up 4.8% - Time to Buy?

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report)'s stock price rose 4.8% during mid-day trading on Monday . The company traded as high as $6.90 and last traded at $7.06. Approximately 117,657 shares were traded during trading, a decline of 95% from the average daily volume of 2,344,694 shares. The stock had previously closed at $6.74.

PureCycle Technologies Price Performance

The stock has a 50-day moving average of $7.56 and a two-hundred day moving average of $9.82. 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 firm has a market cap of $1.24 billion, a price-to-earnings ratio of -4.59 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.67% of the company's stock.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC raised its position in PureCycle Technologies by 215.5% during the 3rd quarter. Tidal Investments LLC now owns 37,223 shares of the company's stock worth $354,000 after buying an additional 25,424 shares during the last quarter. ORG Wealth Partners LLC boosted its position in PureCycle Technologies by 27.8% in the 4th quarter. ORG Wealth Partners LLC now owns 26,209 shares of the company's stock valued at $269,000 after buying an additional 5,697 shares during the period. Bar Harbor Wealth Management purchased a new position in PureCycle Technologies in the 4th quarter valued at approximately $154,000. Sanders Morris Harris LLC lifted its position in shares of PureCycle Technologies by 4.6% during the 4th quarter. Sanders Morris Harris LLC now owns 159,673 shares of the company's stock worth $1,637,000 after purchasing an additional 6,979 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in PureCycle Technologies by 22.6% in the fourth quarter. SG Americas Securities LLC now owns 54,774 shares of the company's stock valued at $561,000 after purchasing an additional 10,094 shares during the period. 63.01% of the stock is owned by institutional investors.

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.

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