PureCycle Technologies (NYSE:PCT) Shares Gap Down to $7.42 – Defense World
Posted by admin on Jul 3rd, 2022 
PureCycle Technologies, Inc. (NYSE:PCT – Get Rating)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.42, but opened at $7.09. PureCycle Technologies shares last traded at $6.97, with a volume of 27,503 shares traded.
PCT has been the subject of several recent research reports. Oppenheimer reissued a “buy” rating and set a $16.00 target price on shares of PureCycle Technologies in a research note on Thursday, April 14th. Craig Hallum cut their target price on shares of PureCycle Technologies from $26.00 to $18.00 in a research note on Thursday, March 10th.
The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -10.95 and a beta of 1.10. The firm’s 50 day moving average is $8.39 and its 200 day moving average is $8.00. The company has a quick ratio of 19.10, a current ratio of 19.10 and a debt-to-equity ratio of 0.41.
PureCycle Technologies (NYSE:PCT – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). During the same quarter last year, the business posted ($0.32) EPS. On average, sell-side analysts predict that PureCycle Technologies, Inc. will post -0.65 earnings per share for the current year.
In other news, Director John Stewart Scott sold 92,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $7.68, for a total transaction of $706,560.00. Following the sale, the director now owns 1,435,709 shares in the company, valued at $11,026,245.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in PCT. Tyler Stone Wealth Management raised its holdings in shares of PureCycle Technologies by 8,544.0% during the first quarter. Tyler Stone Wealth Management now owns 8,644 shares of the company’s stock valued at $69,000 after acquiring an additional 8,544 shares during the period. Amalgamated Bank acquired a new position in PureCycle Technologies in the 1st quarter valued at approximately $70,000. Envestnet Asset Management Inc. acquired a new position in PureCycle Technologies in the 1st quarter valued at approximately $81,000. Principal Financial Group Inc. acquired a new position in PureCycle Technologies in the 1st quarter valued at approximately $83,000. Finally, Capital Investment Advisors LLC acquired a new position in PureCycle Technologies in the 1st quarter valued at approximately $93,000. Institutional investors and hedge funds own 40.86% of the company’s stock.
About PureCycle Technologies (NYSE:PCT)
PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.
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