PureCycle Technologies (NASDAQ:PCT) Issues Earnings Results, Misses Expectations By $0.32 EPS

PureCycle Technologies (NASDAQ:PCT) posted its quarterly earnings results 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 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. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies has a one year low of $4.50 and a one year high of $15.58. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -6.87 and a beta of 1.58. The company’s fifty day moving average is $9.73 and its 200-day moving average is $9.88.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares in the company, valued at $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PCT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a report on Tuesday, November 19th. TD Cowen upped their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

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.