PureCycle Technologies (NASDAQ:PCT) Director Fernando Musa Buys 15,479 Shares

PureCycle Technologies, Inc. (NASDAQ:PCT) Director Fernando Musa purchased 15,479 shares of the business’s stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $6.38 per share, for a total transaction of $98,756.02. Following the purchase, the director owned 175,983 shares of the company’s stock, valued at approximately $1,122,771.54. This represents a 9.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PureCycle Technologies Stock Up 1.9%

Shares of PCT stock opened at $6.51 on Wednesday. PureCycle Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $15.49. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37. The firm has a fifty day moving average of $6.76 and a 200-day moving average of $7.67. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.46 and a beta of 2.57.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%.The company had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. As a group, equities research analysts predict that PureCycle Technologies, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of PureCycle Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PCT. Cassaday & Co Wealth Management LLC acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $33,000. Larson Financial Group LLC increased its holdings in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of PureCycle Technologies in the third quarter valued at about $35,000. SHP Wealth Management acquired a new stake in shares of PureCycle Technologies during the 4th quarter worth about $43,000. Finally, Sigma Planning Corp bought a new stake in shares of PureCycle Technologies during the 1st quarter worth about $53,000. Institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, June 16th. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Wednesday, September 2nd. Cantor Fitzgerald lowered their target price on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Northland Securities set a $13.00 price target on PureCycle Technologies in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PureCycle Technologies has an average rating of “Hold” and an average price target of $11.75.

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.