Stock Traders Purchase High Volume of Call Options on PureCycle Technologies (NYSE:PCT)

PureCycle Technologies, Inc. (NYSE:PCTGet Rating) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 7,595 call options on the company. This represents an increase of approximately 427% compared to the typical volume of 1,441 call options.

PureCycle Technologies Stock Down 1.8 %

PCT stock opened at $8.29 on Thursday. The company has a quick ratio of 12.85, a current ratio of 12.85 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.36 billion, a PE ratio of -13.82 and a beta of 0.92. PureCycle Technologies has a twelve month low of $4.94 and a twelve month high of $14.45. The stock has a 50-day simple moving average of $8.87 and a two-hundred day simple moving average of $8.45.

PureCycle Technologies (NYSE:PCTGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. On average, equities analysts predict that PureCycle Technologies will post -0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on PCT. Stifel Nicolaus began coverage on shares of PureCycle Technologies in a research report on Thursday, September 15th. They set a “buy” rating and a $15.00 target price for the company. Cowen reduced their price objective on shares of PureCycle Technologies from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 15th.

Institutional Trading of PureCycle Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sylebra Capital Ltd boosted its position in shares of PureCycle Technologies by 61.1% during the first quarter. Sylebra Capital Ltd now owns 29,193,256 shares of the company’s stock valued at $233,546,000 after buying an additional 11,071,400 shares during the last quarter. Abundance Wealth Counselors bought a new position in shares of PureCycle Technologies in the second quarter worth about $42,675,000. Atalan Capital Partners LP raised its stake in shares of PureCycle Technologies by 148.2% in the first quarter. Atalan Capital Partners LP now owns 2,392,243 shares of the company’s stock worth $19,138,000 after buying an additional 1,428,570 shares during the period. State Street Corp raised its stake in shares of PureCycle Technologies by 55.3% in the second quarter. State Street Corp now owns 1,840,561 shares of the company’s stock worth $13,657,000 after buying an additional 655,333 shares during the period. Finally, Inherent Group LP bought a new position in shares of PureCycle Technologies in the first quarter worth about $4,343,000. Institutional investors own 66.66% of the company’s stock.

About PureCycle Technologies

(Get Rating)

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.

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