Investors Buy High Volume of Call Options on PureCycle Technologies (NYSE:PCT) – MarketBeat
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PureCycle Technologies, Inc. (NYSE:PCT – Get Rating) was the target of unusually large options trading activity on Wednesday. Traders bought 7,595 call options on the company. This is an increase of 427% compared to the typical daily volume of 1,441 call options.
Institutional Trading of PureCycle Technologies
A number of hedge funds have recently bought and sold shares of PCT. Tyler Stone Wealth Management lifted its stake in 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 buying an additional 8,544 shares in the last quarter. Amalgamated Bank acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at about $70,000. Envestnet Asset Management Inc. acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at about $81,000. Principal Financial Group Inc. acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at about $83,000. Finally, Capital Investment Advisors LLC acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at about $93,000. 66.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of PureCycle Technologies in a report on Thursday, September 15th. They issued a “buy” rating and a $15.00 price target on the stock. Cowen cut their price target on shares of PureCycle Technologies from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 15th.
PureCycle Technologies Trading Up 0.5 %
Shares of PureCycle Technologies stock traded up $0.04 during trading on Wednesday, hitting $8.48. 20,233 shares of the stock were exchanged, compared to its average volume of 887,988. The stock’s fifty day moving average is $8.90 and its 200 day moving average is $8.45. The company has a quick ratio of 12.85, a current ratio of 12.85 and a debt-to-equity ratio of 0.42. PureCycle Technologies has a 12 month low of $4.94 and a 12 month high of $14.80.
PureCycle Technologies (NYSE:PCT – Get Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. On average, research analysts forecast that PureCycle Technologies will post -0.48 earnings per share for the current year.
PureCycle Technologies Company Profile
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on PureCycle Technologies (PCT)
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