PureCycle Technologies (NASDAQ:PCT) Announces Earnings Results

PureCycle Technologies (NASDAQ:PCT) posted its quarterly earnings data on Thursday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32), reports.

PureCycle Technologies Trading Up 11.7 %

NASDAQ:PCT traded up $1.08 during mid-day trading on Friday, hitting $10.30. The company had a trading volume of 3,260,561 shares, compared to its average volume of 2,243,852. PureCycle Technologies has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The business’s fifty day moving average is $9.73 and its two-hundred day moving average is $9.88. 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 firm has a market cap of $1.79 billion, a P/E ratio of -6.87 and a beta of 1.58.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PCT shares. Stifel Nicolaus upped their price target on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen upped their price target on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research note on Tuesday, November 19th.

Insider Buying and Selling at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.09% 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.