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

Key Points

• Options activity surged: Traders bought 26,898 call options in PureCycle Technologies, about 80% above the average daily volume.
• Shares declined 1.7% to $6.68 despite the heightened options activity. The company recently reported a quarterly loss of $0.80 per share, missing estimates by $0.51, while revenue of $4.51 million also fell short of expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $11.75, although ratings range from Strong Buy to Strong Sell. Institutional investors own approximately 63% of the company’s shares.

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) saw unusually large options trading on Monday. Stock traders bought 26,898 call options on the stock. This represents an increase of approximately 80% compared to the average daily volume of 14,969 call options.

PureCycle Technologies Stock Down 1.7%

PCT stock traded down $0.12 during trading on Monday, reaching $6.68. 2,463,480 shares of the company traded hands, compared to its average volume of 4,858,323. The business has a 50 day simple moving average of $7.19 and a 200 day simple moving average of $7.90. PureCycle Technologies has a 12 month low of $4.93 and a 12 month high of $15.49. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.58 and a beta of 2.57.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.51). PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%.The business had revenue of $4.51 million for the quarter, compared to analysts' expectations of $6.11 million. On average, equities research analysts anticipate that PureCycle Technologies will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of PureCycle Technologies in the 1st quarter valued at about $33,000. Larson Financial Group LLC boosted its position in PureCycle Technologies by 6,571.8% during the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company's stock worth $34,000 after purchasing an additional 2,563 shares in the last quarter. Advisory Services Network LLC acquired a new stake in PureCycle Technologies in the third quarter valued at approximately $35,000. SHP Wealth Management acquired a new stake in PureCycle Technologies in the fourth quarter valued at approximately $43,000. Finally, Sigma Planning Corp purchased a new stake in shares of PureCycle Technologies in the first quarter valued at approximately $53,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCT. Alembic Global Advisors set a $16.00 price objective on PureCycle Technologies in a research note on Tuesday, June 16th. Northland Securities set a $13.00 price target on PureCycle Technologies in a report on Friday, June 12th. Cantor Fitzgerald lowered their price target on PureCycle Technologies from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Finally, Wall Street Zen cut shares of PureCycle Technologies from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.75.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.

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