PureCycle Technologies (NASDAQ:PCT) Stock Price Down 13.5% – What’s Next?

PureCycle Technologies, Inc. (NASDAQ:PCT) shares fell 13.5% during trading on Friday . The stock traded as low as $5.99 and last traded at $5.92. 503,716 shares were traded during trading, a decline of 77% from the average session volume of 2,225,441 shares. The stock had previously closed at $6.84.

PureCycle Technologies Trading Down 12.6 %

The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The stock has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $10.19. The stock has a market cap of $1.07 billion, a PE ratio of -4.00 and a beta of 1.55.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). Sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Activity at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were acquired at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the transaction, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.44% of the stock is owned by insiders.

Hedge Funds Weigh In On PureCycle Technologies

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its position in PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after acquiring an additional 2,291 shares during the last quarter. Sterling Capital Management LLC raised its position in PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock worth $33,000 after purchasing an additional 2,861 shares during the period. US Bancorp DE raised its position in PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after purchasing an additional 2,019 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $80,000. Finally, Keudell Morrison Wealth Management bought a new position in shares of PureCycle Technologies during the fourth quarter valued at approximately $117,000. 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.