Investors Purchase Large Volume of Call Options on PureCycle Technologies (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT) saw unusually large options trading on Tuesday. Stock traders purchased 42,953 call options on the stock. This is an increase of 334% compared to the average volume of 9,889 call options.

Institutional Investors Weigh In On PureCycle Technologies

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of PureCycle Technologies during the first quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its position in PureCycle Technologies by 286.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock worth $32,000 after purchasing an additional 2,291 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after buying an additional 2,861 shares during the period. CWM LLC raised its stake in shares of PureCycle Technologies by 158.7% in the first quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after buying an additional 3,043 shares during the period. Finally, US Bancorp DE raised its stake in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after buying an additional 2,019 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 22.8%

PCT stock traded up $2.71 during trading on Tuesday, hitting $14.58. The company had a trading volume of 14,593,270 shares, compared to its average volume of 2,585,872. The business has a 50-day moving average of $8.18 and a 200-day moving average of $9.02. PureCycle Technologies has a one year low of $4.50 and a one year high of $15.58. The stock has a market cap of $2.62 billion, a PE ratio of -9.65 and a beta of 1.80. 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 (NASDAQ:PCT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The business had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $4.27 million. Research analysts predict that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PCT shares. TD Cowen reduced their price objective on PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised PureCycle Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, PureCycle Technologies has an average rating of “Moderate Buy” and a consensus price target of $12.00.

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.