PureCycle Technologies Target of Unusually Large Options Trading (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 26,715 call options on the stock. This represents an increase of 115% compared to the typical daily volume of 12,451 call options.

Hedge Funds Weigh In On PureCycle Technologies

A number of hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $132,000. Corient Private Wealth LLC grew its position in PureCycle Technologies by 3.6% in the fourth quarter. Corient Private Wealth LLC now owns 76,479 shares of the company’s stock valued at $657,000 after acquiring an additional 2,692 shares during the period. SHP Wealth Management acquired a new position in PureCycle Technologies during the fourth quarter worth $43,000. Caitong International Asset Management Co. Ltd raised its stake in PureCycle Technologies by 6,184.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,549 shares of the company’s stock worth $177,000 after acquiring an additional 20,222 shares in the last quarter. Finally, Beacon Advisors Holdings LLC bought a new position in shares of PureCycle Technologies during the fourth quarter valued at $150,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald reduced their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $5.19 on Wednesday. The company has a debt-to-equity ratio of 7.62, a quick ratio of 2.15 and a current ratio of 2.26. The company has a 50-day moving average of $7.86 and a 200-day moving average of $9.83. PureCycle Technologies has a 52 week low of $4.93 and a 52 week high of $17.37. The company has a market capitalization of $937.99 million, a price-to-earnings ratio of -4.29 and a beta of 2.07.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. The business had revenue of $2.70 million during the quarter, compared to the consensus estimate of $6.37 million. As a group, equities research analysts anticipate that PureCycle Technologies will post -1.01 earnings per share for the current fiscal year.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.