PureCycle Technologies (NASDAQ:PCT) Shares Down 6.9% – Should You Sell?

PureCycle Technologies, Inc. (NASDAQ:PCT)’s stock price traded down 6.9% during trading on Monday . The company traded as low as $5.63 and last traded at $5.58. 466,609 shares were traded 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 Trading Down 7.7 %

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

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). On average, sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc acquired 619,925 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was acquired 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 owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its position in PureCycle Technologies by 286.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after acquiring an additional 2,291 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of PureCycle Technologies by 775.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock worth $33,000 after purchasing an additional 2,861 shares during the period. US Bancorp DE grew its position in PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after buying an additional 2,019 shares during the last quarter. NBC Securities Inc. acquired a new position in PureCycle Technologies in the 1st quarter valued at $25,000. Finally, Brown Brothers Harriman & Co. purchased a new position in PureCycle Technologies during the 4th quarter worth $80,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.