PureCycle Technologies (NASDAQ:PCT) Trading Down 6.9% – Time to Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT) shares fell 6.9% during mid-day trading on Monday . The company traded as low as $5.63 and last traded at $5.58. 466,609 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,410,019 shares. The stock had previously closed at $5.99.

PureCycle Technologies Price Performance

The stock has a market cap of $992.15 million, a price-to-earnings ratio of -3.69 and a beta of 1.68. The company’s 50 day moving average is $7.87 and its 200 day moving average is $9.92. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32). Research analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of PureCycle Technologies stock in a transaction on Thursday, February 6th. The shares were bought at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the acquisition, the insider now directly owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PureCycle Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PCT. Duquesne Family Office LLC acquired a new position in shares of PureCycle Technologies in the fourth quarter worth $16,323,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at $13,859,000. Vanguard Group Inc. increased its stake in PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock valued at $144,530,000 after purchasing an additional 758,382 shares during the last quarter. Huntleigh Advisors Inc. purchased a new position in PureCycle Technologies during the first quarter worth about $4,844,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in PureCycle Technologies in the 4th quarter valued at about $3,290,000. Hedge funds and other institutional investors own 63.01% 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.