Shares of PureCycle Technologies, Inc. (NYSE:PCT – Get Free Report) were down 2.8% on Monday . The company traded as low as $4.84 and last traded at $4.84. Approximately 109,781 shares traded hands during trading, a decline of 96% from the average daily volume of 2,490,646 shares. The stock had previously closed at $4.98.
Analysts Set New Price Targets
Separately, Craig Hallum downgraded PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, PureCycle Technologies presently has a consensus rating of “Hold” and an average target price of $7.75.
View Our Latest Research Report on PureCycle Technologies
PureCycle Technologies Price Performance
PureCycle Technologies (NYSE:PCT – Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. As a group, equities analysts predict that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Fernando Musa bought 18,303 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $5.46 per share, with a total value of $99,934.38. Following the completion of the acquisition, the director now directly owns 68,413 shares of the company’s stock, valued at approximately $373,534.98. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.09% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of PCT. Drive Wealth Management LLC purchased a new stake in shares of PureCycle Technologies in the first quarter valued at approximately $78,000. Abundance Wealth Counselors increased its position in shares of PureCycle Technologies by 21.0% in the first quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock valued at $42,185,000 after buying an additional 1,178,570 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of PureCycle Technologies during the fourth quarter worth approximately $202,000. Sierra Summit Advisors LLC purchased a new stake in shares of PureCycle Technologies during the fourth quarter worth approximately $964,000. Finally, VitalStone Financial LLC increased its position in shares of PureCycle Technologies by 163.9% during the fourth quarter. VitalStone Financial LLC now owns 9,500 shares of the company’s stock worth $38,000 after purchasing an additional 5,900 shares in the last quarter. 63.01% of the stock is 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.
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