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

PureCycle Technologies (NASDAQ:PCT) issued 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 Price Performance

Shares of PCT traded up $0.65 during mid-day trading on Friday, reaching $9.87. The company had a trading volume of 1,634,713 shares, compared to its average volume of 2,199,802. The company’s 50 day simple moving average is $9.74 and its 200 day simple moving average is $9.85. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -6.58 and a beta of 1.58. PureCycle Technologies has a 1-year low of $4.50 and a 1-year high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

Analyst Ratings Changes

A number of analysts have recently commented on PCT shares. TD Cowen boosted their price objective on shares of 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 reaffirmed an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Insiders Place Their Bets

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the transaction, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.