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

PureCycle Technologies, Inc. (NASDAQ:PCT) was the recipient of some unusual options trading on Tuesday. Traders bought 42,953 call options on the stock. This is an increase of approximately 334% compared to the average daily volume of 9,889 call options.

PureCycle Technologies Stock Up 22.8%

Shares of PCT traded up $2.71 on Tuesday, hitting $14.58. The company’s stock had a trading volume of 14,593,270 shares, compared to its average volume of 2,585,872. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The firm’s fifty day moving average price is $8.18 and its 200-day moving average price is $9.02. PureCycle Technologies has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -9.65 and a beta of 1.80.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. On average, equities research analysts expect that PureCycle Technologies will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised PureCycle Technologies from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen decreased their target price on PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Institutional Investors Weigh In On PureCycle Technologies

Institutional investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in PureCycle Technologies in the 1st quarter valued at $25,000. Jones Financial Companies Lllp grew its holdings in PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after buying an additional 2,291 shares in the last quarter. Sterling Capital Management LLC grew its holdings in PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after buying an additional 2,861 shares in the last quarter. CWM LLC grew its holdings in PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after buying an additional 3,043 shares in the last quarter. Finally, US Bancorp DE grew its holdings in PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after buying an additional 2,019 shares in the last quarter. 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.