PureCycle Technologies, Inc. (NYSE:PCT – Get Free Report)’s share price was up 11.6% during trading on Thursday . The stock traded as high as $5.78 and last traded at $5.77. Approximately 998,345 shares were traded during trading, a decline of 55% from the average daily volume of 2,209,433 shares. The stock had previously closed at $5.17.
Analyst Ratings Changes
A number of analysts recently weighed in on PCT shares. TD Cowen upped their price objective on shares of PureCycle Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price target on shares of PureCycle Technologies in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.90.
Check Out Our Latest Report on PureCycle Technologies
PureCycle Technologies Price Performance
PureCycle Technologies (NYSE:PCT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.10). As a group, research analysts predict that PureCycle Technologies, Inc. will post -0.73 earnings per share for the current fiscal year.
Institutional Trading of PureCycle Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Forum Financial Management LP raised its stake in PureCycle Technologies by 170.0% in the fourth quarter. Forum Financial Management LP now owns 270,000 shares of the company’s stock valued at $1,094,000 after buying an additional 170,000 shares during the last quarter. SWS Partners raised its position in shares of PureCycle Technologies by 40.9% in the 4th quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after purchasing an additional 255,019 shares during the last quarter. Sylebra Capital LLC acquired a new stake in PureCycle Technologies in the 3rd quarter worth approximately $163,774,000. Sierra Summit Advisors LLC purchased a new stake in PureCycle Technologies during the 4th quarter worth approximately $964,000. Finally, Wealthsource Partners LLC grew its position in PureCycle Technologies by 5.3% during the 4th quarter. Wealthsource Partners LLC now owns 89,282 shares of the company’s stock worth $362,000 after purchasing an additional 4,488 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.
PureCycle Technologies Company Profile
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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