PureCycle Technologies, Inc. (NYSE:PCT – Get Free Report)’s stock price reached a new 52-week high on Friday . The company traded as high as $10.97 and last traded at $10.93, with a volume of 677380 shares changing hands. The stock had previously closed at $9.98.
Analyst Ratings Changes
PCT has been the topic of a number of analyst reports. Cantor Fitzgerald began coverage on shares of PureCycle Technologies in a research report on Friday. They set an “overweight” rating and a $14.00 target price on the stock. Stifel Nicolaus upped their target price on PureCycle Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, August 12th. TD Cowen raised their price target on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Craig Hallum upped their price objective on shares of PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Hold” and a consensus price target of $8.20.
Check Out Our Latest Analysis on PCT
PureCycle Technologies Stock Up 5.3 %
PureCycle Technologies (NYSE:PCT – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.13). As a group, analysts expect that PureCycle Technologies, Inc. will post -0.85 earnings per share for the current fiscal year.
Insider Activity at PureCycle Technologies
In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.09% of the company’s stock.
Hedge Funds Weigh In On PureCycle Technologies
Hedge funds have recently modified their holdings of the stock. Fortis Group Advisors LLC purchased a new position in shares of PureCycle Technologies in the first quarter worth approximately $67,000. Algert Global LLC acquired a new position in shares of PureCycle Technologies during the 2nd quarter worth $69,000. Tidal Investments LLC bought a new position in shares of PureCycle Technologies in the first quarter valued at approximately $70,000. Bayesian Capital Management LP bought a new stake in shares of PureCycle Technologies in the first quarter valued at about $98,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth approximately $104,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.
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.
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