PureCycle Technologies Sees Unusually High Options Volume (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT) was the target of some unusual options trading on Tuesday. Stock traders acquired 26,332 call options on the stock. This represents an increase of approximately 131% compared to the average volume of 11,380 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in shares of PureCycle Technologies by 158.7% during the 1st quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after acquiring an additional 3,043 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of PureCycle Technologies by 278.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock valued at $35,000 after acquiring an additional 1,891 shares during the period. KBC Group NV bought a new stake in shares of PureCycle Technologies during the 1st quarter valued at $41,000. Kathmere Capital Management LLC bought a new stake in shares of PureCycle Technologies during the 1st quarter valued at $69,000. Finally, LJI Wealth Management LLC bought a new stake in shares of PureCycle Technologies during the 1st quarter valued at $86,000. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Stock Down 5.1%

NASDAQ PCT traded down $0.56 during trading on Tuesday, hitting $10.34. The stock had a trading volume of 2,568,797 shares, compared to its average volume of 2,976,837. The company has a market capitalization of $1.86 billion, a PE ratio of -6.12 and a beta of 2.01. The company’s 50-day moving average price is $13.48 and its two-hundred day moving average price is $12.21. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. PureCycle Technologies has a 12 month low of $5.40 and a 12 month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The firm had revenue of $1.65 million during the quarter, compared to the consensus estimate of $4.10 million. As a group, sell-side analysts forecast that PureCycle Technologies will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PCT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Seaport Res Ptn upgraded PureCycle Technologies to a “strong-buy” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $16.00 price objective on shares of PureCycle Technologies in a report on Friday, August 8th. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Northland Securities started coverage on PureCycle Technologies in a report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Buy” and a consensus price target of $15.00.

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.