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

PureCycle Technologies, Inc. (NASDAQ:PCT) saw unusually large options trading on Thursday. Traders bought 41,163 call options on the company. This is an increase of 190% compared to the typical daily volume of 14,190 call options.

Analyst Ratings Changes

A number of analysts have issued reports on PCT shares. Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Wednesday, September 2nd. Cantor Fitzgerald dropped their price target on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Northland Securities set a $13.00 price objective on PureCycle Technologies in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PureCycle Technologies currently has an average rating of “Hold” and a consensus target price of $11.75.

Insiders Place Their Bets

In related news, Director Fernando Musa acquired 15,479 shares of the business’s stock in a transaction on Friday, September 4th. The stock was acquired at an average cost of $6.38 per share, with a total value of $98,756.02. Following the acquisition, the director directly owned 175,983 shares in the company, valued at $1,122,771.54. This represents a 9.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.80% of the stock is owned by insiders.

Institutional Trading of PureCycle Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC lifted its position in PureCycle Technologies by 4.3% during the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after acquiring an additional 1,516 shares during the last quarter. ProShare Advisors LLC increased its position in shares of PureCycle Technologies by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock worth $204,000 after purchasing an additional 1,526 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of PureCycle Technologies by 5.0% during the 3rd quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock valued at $432,000 after purchasing an additional 1,574 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of PureCycle Technologies by 1.7% in the 1st quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock worth $574,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in PureCycle Technologies by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 13,451 shares of the company’s stock worth $70,000 after buying an additional 2,016 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Price Performance

Shares of PureCycle Technologies stock opened at $5.83 on Friday. The stock has a 50 day moving average price of $6.69 and a 200-day moving average price of $7.63. PureCycle Technologies has a one year low of $4.93 and a one year high of $15.49. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -3.99 and a beta of 2.57. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.51). PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%.The firm had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $6.11 million. Equities analysts expect that PureCycle Technologies will post -0.9 EPS for the current 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.