PureCycle Technologies (NYSE:PCT) Trading 8% Higher

PureCycle Technologies, Inc. (NYSE:PCT) rose 8% on Friday . The company traded as high as $5.53 and last traded at $5.53. Approximately 226,343 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,400,271 shares. The stock had previously closed at $5.12.

PureCycle Technologies Price Performance

The company has a fifty day moving average of $5.45 and a 200-day moving average of $4.67. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.84. The stock has a market cap of $903.82 million, a PE ratio of -5.29 and a beta of 1.60.

PureCycle Technologies (NYSE:PCT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.08. Sell-side analysts expect that PureCycle Technologies, Inc. will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fernando Musa acquired 18,303 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $5.46 per share, with a total value of $99,934.38. Following the completion of the transaction, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On PureCycle Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sylebra Capital LLC acquired a new position in PureCycle Technologies during the 3rd quarter worth approximately $163,774,000. Abundance Wealth Counselors grew its stake in shares of PureCycle Technologies by 21.0% during the first quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock worth $42,185,000 after purchasing an additional 1,178,570 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of PureCycle Technologies by 17.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,117,948 shares of the company’s stock worth $8,578,000 after purchasing an additional 313,928 shares in the last quarter. SWS Partners increased its holdings in PureCycle Technologies by 40.9% in the fourth quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after buying an additional 255,019 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in PureCycle Technologies in the fourth quarter valued at $964,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.