PureCycle Technologies Sees Unusually High Options Volume (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) saw some unusual options trading on Wednesday. Stock investors bought 19,242 call options on the company. This represents an increase of 66% compared to the typical volume of 11,617 call options.

PureCycle Technologies Stock Performance

Shares of NASDAQ PCT traded down $0.15 during midday trading on Friday, hitting $13.67. 1,929,636 shares of the company's stock were exchanged, compared to its average volume of 2,730,556. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.45. The stock's 50 day moving average price is $10.23 and its 200-day moving average price is $9.16. The firm has a market cap of $2.45 billion, a P/E ratio of -11.68 and a beta of 1.90. PureCycle Technologies has a twelve month low of $4.50 and a twelve month high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. Equities research analysts anticipate that PureCycle Technologies will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price objective (up from $12.00) on shares of PureCycle Technologies in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its stake 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 worth $32,000 after acquiring an additional 2,291 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in PureCycle Technologies by 775.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after acquiring an additional 2,861 shares during the period. US Bancorp DE boosted its holdings in PureCycle Technologies by 141.5% during the fourth 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 during the period. NBC Securities Inc. bought a new stake in PureCycle Technologies during the first quarter valued at about $25,000. Finally, CWM LLC boosted its holdings in PureCycle Technologies by 158.7% during the first quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after acquiring an additional 3,043 shares during the period. Institutional investors 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.