PureCycle Technologies (PCT) Scheduled to Post Earnings on Thursday

PureCycle Technologies (NYSE:PCTGet Rating) is scheduled to be announcing its earnings results before the market opens on Thursday, May 12th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

NYSE:PCT opened at $8.38 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 8.98 and a quick ratio of 8.98. The firm’s 50-day moving average price is $8.15 and its 200-day moving average price is $9.10. The company has a market capitalization of $1.37 billion, a PE ratio of -7.64 and a beta of 1.12. PureCycle Technologies has a 1-year low of $4.94 and a 1-year high of $27.92.

In other news, CEO Michael Otworth bought 142,856 shares of the stock in a transaction on Thursday, March 17th. The shares were bought at an average price of $7.00 per share, with a total value of $999,992.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Warner Brenner sold 225,000 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $7.86, for a total value of $1,768,500.00. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in PureCycle Technologies by 40.4% in the fourth quarter. BlackRock Inc. now owns 3,637,065 shares of the company’s stock worth $34,808,000 after acquiring an additional 1,046,290 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in PureCycle Technologies in the 4th quarter worth $2,299,000. State Street Corp lifted its position in PureCycle Technologies by 32.7% during the fourth quarter. State Street Corp now owns 966,397 shares of the company’s stock valued at $9,248,000 after purchasing an additional 237,960 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in PureCycle Technologies by 209.9% during the fourth quarter. Nuveen Asset Management LLC now owns 310,875 shares of the company’s stock valued at $3,018,000 after purchasing an additional 210,574 shares during the period. Finally, Geode Capital Management LLC increased its position in PureCycle Technologies by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 1,115,428 shares of the company’s stock worth $10,674,000 after buying an additional 207,591 shares in the last quarter. 40.86% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Craig Hallum cut their price objective on shares of PureCycle Technologies from $26.00 to $18.00 in a report on Thursday, March 10th. Zacks Investment Research downgraded PureCycle Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th. Finally, Oppenheimer reiterated a “buy” rating and set a $16.00 price objective on shares of PureCycle Technologies in a research note on Thursday, April 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.63.

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.

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