PureCycle Technologies, Inc. (NASDAQ:PCT – Get 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
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:PCT – Get 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
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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