PureCycle Technologies Sees Unusually Large Options Volume (NASDAQ:PCT)

PureCycle Technologies, Inc. (NASDAQ:PCT) was the target of some unusual options trading on Tuesday. Traders purchased 26,715 call options on the stock. This is an increase of 115% compared to the typical volume of 12,451 call options.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald cut their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Hedge Funds Weigh In On PureCycle Technologies

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in PureCycle Technologies by 62.4% during the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock worth $7,213,000 after purchasing an additional 400,520 shares during the period. AQR Capital Management LLC grew its holdings in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after acquiring an additional 8,478 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after purchasing an additional 1,516 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PureCycle Technologies by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock valued at $507,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of PureCycle Technologies in the 1st quarter valued at about $3,770,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 2.9%

NASDAQ:PCT traded up $0.15 during mid-day trading on Tuesday, hitting $5.21. 4,004,935 shares of the stock traded hands, compared to its average volume of 4,680,604. The company has a quick ratio of 2.15, a current ratio of 2.26 and a debt-to-equity ratio of 7.62. PureCycle Technologies has a 52 week low of $4.93 and a 52 week high of $17.37. The stock has a market capitalization of $940.70 million, a price-to-earnings ratio of -4.30 and a beta of 2.07. The firm’s 50 day moving average is $7.99 and its two-hundred day moving average is $9.89.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. On average, equities research analysts predict that PureCycle Technologies will post -1.01 earnings per share for the current year.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra?pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.