PureCycle Technologies (NYSE:PCT) Stock Price Up 8.1%

PureCycle Technologies, Inc. (NYSE:PCT)’s share price shot up 8.1% during trading on Thursday . The company traded as high as $5.14 and last traded at $5.05. 708,147 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,476,595 shares. The stock had previously closed at $4.67.

PureCycle Technologies Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 2.92 and a quick ratio of 2.92. The company has a fifty day moving average price of $5.52 and a 200 day moving average price of $4.61. The stock has a market cap of $878.11 million, a P/E ratio of -8.09 and a beta of 1.60.

PureCycle Technologies (NYSE:PCT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. On average, equities analysts expect that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Insiders Place Their Bets

In other PureCycle Technologies news, Director Fernando Musa bought 18,303 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the purchase, 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 document filed with the SEC, which can be accessed through this link. Insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC purchased a new stake in PureCycle Technologies during the third quarter valued at about $163,774,000. Abundance Wealth Counselors boosted its holdings in PureCycle Technologies by 21.0% in the 1st quarter. Abundance Wealth Counselors now owns 6,782,137 shares of the company’s stock worth $42,185,000 after buying an additional 1,178,570 shares during the period. Gladstone Institutional Advisory LLC grew its stake in PureCycle Technologies by 17.4% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,117,948 shares of the company’s stock valued at $8,578,000 after buying an additional 313,928 shares in the last quarter. SWS Partners raised its holdings in PureCycle Technologies by 40.9% during the 4th quarter. SWS Partners now owns 877,924 shares of the company’s stock valued at $3,556,000 after acquiring an additional 255,019 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new stake in shares of PureCycle Technologies during the fourth quarter worth $964,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.