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

PureCycle Technologies, Inc. (NASDAQ:PCT) saw some unusual options trading on Thursday. Investors acquired 52,983 put options on the stock. This represents an increase of 259% compared to the typical volume of 14,740 put options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PCT. Focused Wealth Management Inc increased its stake in shares of PureCycle Technologies by 7.1% during the fourth quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock worth $129,000 after purchasing an additional 1,000 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after buying an additional 1,516 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of PureCycle Technologies by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock valued at $204,000 after purchasing an additional 1,526 shares in the last quarter. Lido Advisors LLC raised its stake in PureCycle Technologies by 5.0% during the 3rd quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock worth $432,000 after acquiring an additional 1,574 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in PureCycle Technologies by 1.7% during the 1st quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock worth $574,000 after purchasing an additional 1,823 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

PCT stock traded down $1.31 during mid-day trading on Thursday, hitting $8.58. 26,323,607 shares of the stock were exchanged, compared to its average volume of 4,801,236. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. The business has a fifty day moving average price of $9.09 and a 200 day moving average price of $8.74. PureCycle Technologies has a 12 month low of $4.93 and a 12 month high of $17.37. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.85 and a beta of 2.48.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%.The firm had revenue of $4.13 million during the quarter, compared to analyst estimates of $3.83 million. On average, sell-side analysts anticipate that PureCycle Technologies will post -0.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen reduced their price target on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Cantor Fitzgerald reduced their price target on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Wall Street Zen lowered PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

PureCycle Technologies Company Profile

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.