Stock Traders Purchase High Volume of PureCycle Technologies Call Options (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders bought 9,502 call options on the stock. This is an increase of approximately 38% compared to the typical daily volume of 6,879 call options.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT traded down $0.11 during trading on Friday, hitting $6.74. The company had a trading volume of 1,370,440 shares, compared to its average volume of 2,351,340. The company has a market cap of $1.21 billion, a P/E ratio of -4.49 and a beta of 1.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The business's 50-day moving average is $7.56 and its 200 day moving average is $9.81. PureCycle Technologies has a 52 week low of $4.50 and a 52 week high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Equities research analysts predict that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was acquired 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 21.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCT. NewEdge Advisors LLC boosted its stake in PureCycle Technologies by 0.4% in the 4th quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock worth $3,306,000 after purchasing an additional 1,330 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of PureCycle Technologies by 11.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock worth $132,000 after purchasing an additional 1,352 shares in the last quarter. US Bancorp DE lifted its holdings in shares of PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the last quarter. Arizona State Retirement System increased its holdings in PureCycle Technologies by 6.1% in the fourth quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock worth $361,000 after buying an additional 2,033 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in PureCycle Technologies by 13.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after acquiring an additional 2,230 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Company Profile

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.