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

PureCycle Technologies (NASDAQ:PCT) posted its earnings results on Thursday. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32), reports.

PureCycle Technologies Stock Up 11.7 %

NASDAQ:PCT traded up $1.08 during mid-day trading on Friday, hitting $10.30. 3,260,561 shares of the company’s stock traded hands, compared to its average volume of 2,243,852. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The company has a market capitalization of $1.79 billion, a P/E ratio of -6.87 and a beta of 1.58. The company has a fifty day moving average of $9.73 and a 200 day moving average of $9.88. PureCycle Technologies has a twelve month low of $4.50 and a twelve month high of $15.58.

Insider Transactions at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was acquired 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 owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a research note on Tuesday, November 19th. TD Cowen raised their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

About PureCycle Technologies

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.