PureCycle Technologies (NYSE:PCT) Stock Price Up 8.1%

PureCycle Technologies, Inc. (NYSE:PCT)’s share price rose 8.1% during mid-day trading on Thursday . The stock traded as high as $5.14 and last traded at $5.05. Approximately 708,147 shares were traded during trading, a decline of 71% from the average daily volume of 2,476,595 shares. The stock had previously closed at $4.67.

PureCycle Technologies Trading Up 1.9 %

The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 1.21. The business has a 50 day simple moving average of $5.52 and a two-hundred day simple moving average of $4.61. The stock has a market cap of $878.11 million, a price-to-earnings ratio of -8.09 and a beta of 1.60.

PureCycle Technologies (NYSE:PCT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. As a group, equities analysts anticipate that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Insider Activity

In other PureCycle Technologies news, Director Fernando Musa acquired 18,303 shares of PureCycle Technologies stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $5.46 per share, for a total transaction of $99,934.38. Following the transaction, the director now owns 68,413 shares in the company, valued at approximately $373,534.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.44% of the stock is owned by insiders.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors have recently bought and sold shares of the business. Sylebra Capital LLC acquired a new stake in PureCycle Technologies during the third quarter valued at $163,774,000. HighTower Advisors LLC lifted its holdings in shares of PureCycle Technologies by 158.0% during the 3rd quarter. HighTower Advisors LLC now owns 205,418 shares of the company’s stock valued at $1,158,000 after buying an additional 125,801 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PureCycle Technologies by 63.4% in the 3rd quarter. Van ECK Associates Corp now owns 465,106 shares of the company’s stock valued at $2,609,000 after buying an additional 180,525 shares in the last quarter. SWS Partners grew its stake in shares of PureCycle Technologies by 21.2% in the 3rd quarter. SWS Partners now owns 622,905 shares of the company’s stock valued at $3,494,000 after buying an additional 108,837 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in PureCycle Technologies in the third quarter worth approximately $85,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.