PureCycle Technologies Target of Unusually High Options Trading (NYSE:PCT)

PureCycle Technologies, Inc. (NYSE:PCT) was the recipient of unusually large options trading on Wednesday. Stock traders bought 11,102 call options on the company. This is an increase of 87% compared to the typical daily volume of 5,925 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCT shares. Stifel Nicolaus increased their price objective on shares of PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Craig Hallum raised their price objective on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, TD Cowen upped their target price on shares of PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.75.

PureCycle Technologies Price Performance

PCT opened at $6.76 on Thursday. PureCycle Technologies has a 52-week low of $2.38 and a 52-week high of $8.44. The stock has a market cap of $1.11 billion, a P/E ratio of -6.63 and a beta of 1.61. The business has a fifty day moving average of $6.08 and a 200 day moving average of $5.71. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13). As a group, sell-side analysts anticipate that PureCycle Technologies will post -0.87 EPS for the current year.

Institutional Investors Weigh In On PureCycle Technologies

Several hedge funds have recently modified their holdings of the business. VitalStone Financial LLC grew its position in PureCycle Technologies by 163.9% during the 4th quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after purchasing an additional 5,900 shares during the period. National Bank of Canada FI grew its position in shares of PureCycle Technologies by 45.8% in the fourth quarter. National Bank of Canada FI now owns 13,979 shares of the company’s stock valued at $52,000 after purchasing an additional 4,388 shares during the period. Fortis Group Advisors LLC purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $67,000. Victory Capital Management Inc. raised its position in shares of PureCycle Technologies by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock worth $69,000 after purchasing an additional 3,128 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in PureCycle Technologies in the 2nd quarter worth about $69,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.