PureCycle Technologies Target of Unusually Large Options Trading (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCTGet Free Report) saw some unusual options trading on Wednesday. Stock traders purchased 19,242 call options on the stock. This is an increase of approximately 66% compared to the typical volume of 11,617 call options.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen upgraded PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $16.00 target price (up previously from $12.00) on shares of PureCycle Technologies in a research report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of PureCycle Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Read Our Latest Stock Analysis on PureCycle Technologies

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in PureCycle Technologies by 36.4% in the fourth quarter. Deutsche Bank AG now owns 111,525 shares of the company’s stock valued at $1,143,000 after acquiring an additional 29,782 shares during the last quarter. Cetera Investment Advisers grew its holdings in PureCycle Technologies by 22.6% during the fourth quarter. Cetera Investment Advisers now owns 60,988 shares of the company’s stock valued at $625,000 after purchasing an additional 11,261 shares during the period. Vanguard Group Inc. increased its position in PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock worth $144,530,000 after buying an additional 758,382 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of PureCycle Technologies by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 113,708 shares of the company’s stock valued at $1,166,000 after buying an additional 4,170 shares during the last quarter. Finally, US Bancorp DE grew its stake 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 worth $35,000 after acquiring an additional 2,019 shares during the period. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.67 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43. The company has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $9.15. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.58. The company has a market cap of $2.45 billion, a P/E ratio of -11.68 and a beta of 1.90.

PureCycle Technologies (NASDAQ:PCTGet Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. Sell-side analysts predict that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

About PureCycle Technologies

(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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