PureCycle Technologies, Inc. (NASDAQ:PCT – Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $4.92 and last traded at $4.9250, with a volume of 2886213 shares trading hands. The stock had previously closed at $5.15.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Wednesday, September 2nd. Northland Securities set a $13.00 price target on PureCycle Technologies in a research note on Friday, June 12th. Alembic Global Advisors set a $16.00 price target on PureCycle Technologies in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald reduced their price objective on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.75.
View Our Latest Analysis on PCT
PureCycle Technologies Trading Down 2.6%
PureCycle Technologies (NASDAQ:PCT – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). The firm had revenue of $4.51 million for the quarter, compared to analyst estimates of $6.11 million. PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%. As a group, equities analysts predict that PureCycle Technologies, Inc. will post -0.9 EPS for the current fiscal year.
Insider Activity
In other news, Director Fernando Musa bought 15,479 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average cost of $6.38 per share, for a total transaction of $98,756.02. Following the purchase, the director owned 175,983 shares of the company’s stock, valued at approximately $1,122,771.54. This trade represents a 9.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 18.80% of the company’s stock.
Institutional Trading of PureCycle Technologies
Institutional investors and hedge funds have recently bought and sold shares of the business. SHP Wealth Management bought a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $43,000. Cassaday & Co Wealth Management LLC acquired a new stake in PureCycle Technologies during the 1st quarter valued at $33,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in PureCycle Technologies during the 2nd quarter valued at $82,000. Sigma Planning Corp bought a new position in PureCycle Technologies during the first quarter worth $53,000. Finally, Carnegie Lake Advisors LLC bought a new position in PureCycle Technologies during the fourth quarter worth $94,000. Institutional investors own 63.01% of the company’s stock.
PureCycle Technologies Company Profile
PureCycle Technologies, Inc is a chemical recycling company that develops and operates technology designed to convert waste polypropylene plastic into recycled polypropylene resin. Unlike conventional mechanical recycling, which can leave behind colors, odors and other contaminants, PureCycle’s proprietary purification process is intended to separate impurities from polypropylene and produce a recycled material with properties similar to virgin resin.
The company’s products are recycled polypropylene pellets and related materials that can be used in applications such as packaging, consumer products, automotive components and other molded plastic goods.
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