Sylebra Capital LLC recently announced the acquisition of new stake in PureCycle Technologies Inc (NASDAQ:PCT). This fresh investment now brings its stake to 17.79% valued currently at $117.94 million. In addition, The Vanguard Group, Inc. raised its holdings by 12996.0 to 12.33 million shares. And Samlyn Capital LLC has lifted its position by 22.45% or 1.71 million shares – to 9.31 million shares.
With over 5.63 million PureCycle Technologies Inc (PCT) shares trading Tuesday and a closing price of $2.95 on the day, the dollar volume was approximately $16.6 million. The shares have shown a negative half year performance of -73.89% and its price on 01/09/24 lost nearly -5.45%. Currently, there are 163.55M common shares owned by the public and among those 126.14M shares have been available to trade.
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Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 752,595 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 43,807 shares.
The top 3 mutual fund holders in PureCycle Technologies Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 4.25 million shares of the company’s stock, all valued at over $17.16 million. Vanguard Small Cap Index Fund bought 10412.0 shares to see its total holdings expand to 3.38 million shares valued at over $13.66 million and representing 2.06% of the shares outstanding. iShares Russell 2000 ETF bought 1371.0 shares to bring its total holdings to over 2.79 million shares at a value of $11.27 million. iShares Russell 2000 ETF now owns shares totaling to 1.70% of the shares outstanding.
Shares of PureCycle Technologies Inc (NASDAQ: PCT) opened at $3.07, down -$0.05 from a prior closing price of $3.12. However, the script later moved the day high at 3.1000, down -5.45%. The company’s stock has a 5-day price change of -21.33% and -44.55% over the past three months. PCT shares are trading -27.16% year to date (YTD), with the 12-month market performance down to -56.43% lower. It has a 12-month low price of $2.54 and touched a high of $11.89 over the same period. PCT has an average intraday trading volume of 3.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -26.53%, -27.91%, and -57.23% respectively.
Institutional ownership of PureCycle Technologies Inc (NASDAQ: PCT) shares accounts for 65.74% of the company’s 163.55M shares outstanding. Mutual fund holders own 15.41%, while other institutional holders and individual stakeholders account for 50.35% and 15.00% respectively.
It has a market capitalization of $483.98M and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$0.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.36% over the week and 11.53% over the month.
Analysts forecast that PureCycle Technologies Inc (PCT) will achieve an EPS of -$0.24 for the current quarter, -$0.19 for the next quarter and -$0.4 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -41.36%, and 46.93% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate PureCycle Technologies Inc (PCT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 3 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PCT, a number of firms have released research notes about the stock. Craig Hallum stated their Hold rating for the stock in a research note on January 03, 2024, with the firm’s price target at $4.
