Investors Purchase Large Volume of PureCycle Technologies Call Options (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT) saw unusually large options trading on Monday. Stock traders purchased 16,886 call options on the stock. This is an increase of approximately 41% compared to the average daily volume of 11,940 call options.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently bought and sold shares of the business. Sylebra Capital LLC boosted its stake in shares of PureCycle Technologies by 1.9% in the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company’s stock valued at $235,817,000 after buying an additional 619,925 shares during the period. Vanguard Group Inc. grew its holdings in shares of PureCycle Technologies by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company’s stock worth $102,149,000 after purchasing an additional 660,837 shares in the last quarter. Samlyn Capital LLC increased its position in shares of PureCycle Technologies by 19.1% in the first quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company’s stock worth $43,057,000 after purchasing an additional 997,337 shares during the period. Appian Way Asset Management LP raised its stake in PureCycle Technologies by 1.4% in the third quarter. Appian Way Asset Management LP now owns 4,315,655 shares of the company’s stock valued at $56,751,000 after purchasing an additional 59,676 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in PureCycle Technologies by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,391,126 shares of the company’s stock worth $46,465,000 after purchasing an additional 71,401 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Down 8.8%

Shares of NASDAQ:PCT opened at $8.01 on Tuesday. PureCycle Technologies has a 52-week low of $5.40 and a 52-week high of $17.37. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24. The company has a market capitalization of $1.44 billion, a P/E ratio of -5.49 and a beta of 2.11. The company has a 50-day simple moving average of $10.76 and a 200 day simple moving average of $12.48.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The company had revenue of $2.43 million for the quarter, compared to analyst estimates of $6.04 million. Sell-side analysts forecast that PureCycle Technologies will post -1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCT. Weiss Ratings reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th. TD Cowen reissued a “hold” rating and set a $9.00 target price (down previously from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a research report on Tuesday, August 26th. Seaport Res Ptn raised PureCycle Technologies to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Northland Securities began coverage on PureCycle Technologies in a research note on Wednesday, August 27th. They set an “outperform” rating and a $16.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.67.

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.