PureCycle Technologies (NASDAQ:PCT) Announces Earnings Results, Misses Expectations By $0.32 EPS

PureCycle Technologies (NASDAQ:PCT) posted its quarterly earnings data on Thursday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32), reports.

PureCycle Technologies Stock Up 11.7 %

NASDAQ:PCT traded up $1.08 on Friday, hitting $10.30. 3,260,561 shares of the company’s stock were exchanged, compared to its average volume of 2,243,852. 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 firm has a 50-day moving average price of $9.73 and a 200-day moving average price of $9.88. The company has a market cap of $1.79 billion, a P/E ratio of -6.87 and a beta of 1.58. PureCycle Technologies has a 52 week low of $4.50 and a 52 week high of $15.58.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen raised their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus increased their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Insider Buying and Selling at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was bought at an average price of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.09% 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.