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

PureCycle Technologies (NASDAQ:PCT) announced its quarterly earnings data 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 Trading Up 11.7 %

Shares of NASDAQ:PCT traded up $1.08 during trading on Friday, reaching $10.30. 3,260,561 shares of the company were exchanged, compared to its average volume of 2,243,852. The firm has a market capitalization of $1.79 billion, a PE ratio of -6.87 and a beta of 1.58. The business’s fifty day simple moving average is $9.73 and its 200-day simple moving average is $9.88. PureCycle Technologies has a 12-month low of $4.50 and a 12-month high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

Analysts Set New Price Targets

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

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average cost 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 in the company, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.