PureCycle Technologies, Inc. (NYSE:PCT – Get Rating)’s share price was down 4.3% on Friday . The company traded as low as $7.32 and last traded at $7.35. Approximately 142,322 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,856,925 shares. The stock had previously closed at $7.68.
Analyst Ratings Changes
Separately, Oppenheimer cut their price target on shares of PureCycle Technologies from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, March 17th.
PureCycle Technologies Trading Down 8.3 %
The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.17 and a current ratio of 6.17. The stock has a market capitalization of $1.15 billion, a P/E ratio of -13.80 and a beta of 0.95. The firm’s fifty day simple moving average is $6.13 and its 200 day simple moving average is $6.80.
Institutional Investors Weigh In On PureCycle Technologies
Several hedge funds have recently added to or reduced their stakes in PCT. Moneta Group Investment Advisors LLC lifted its position in shares of PureCycle Technologies by 113,962.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,370,710 shares of the company’s stock worth $306,706,000 after purchasing an additional 45,330,933 shares during the period. Abundance Wealth Counselors lifted its position in shares of PureCycle Technologies by 34.6% during the 1st quarter. Abundance Wealth Counselors now owns 7,742,629 shares of the company’s stock valued at $54,198,000 after acquiring an additional 1,990,966 shares during the period. BlackRock Inc. increased its stake in PureCycle Technologies by 1.8% during the 1st quarter. BlackRock Inc. now owns 7,253,019 shares of the company’s stock valued at $50,771,000 after purchasing an additional 126,438 shares in the last quarter. Geode Capital Management LLC increased its stake in PureCycle Technologies by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 2,280,976 shares of the company’s stock valued at $15,419,000 after purchasing an additional 83,543 shares in the last quarter. Finally, State Street Corp increased its stake in PureCycle Technologies by 8.4% during the 3rd quarter. State Street Corp now owns 1,995,955 shares of the company’s stock valued at $16,107,000 after purchasing an additional 155,394 shares in the last quarter. 83.82% of the stock is currently owned by institutional investors and hedge funds.
About PureCycle Technologies
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.
- Get a free copy of the StockNews.com research report on PureCycle Technologies (PCT)
- MarketBeat Week in Review – 5/8 – 5/12
- An Updraft Is Brewing For DraftKings
- PepsiCo Hits “Sweet Spot” For APAC Growth, Macros Agree
- High-Risk Mullen Automotive Continues To Build Momentum
- 3 Recession-Proof Stocks With Nice Dividends
Receive News & Ratings for PureCycle Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PureCycle Technologies and related companies with MarketBeat.com's FREE daily email newsletter.