PureCycle Technologies, Inc. (PCT)
PureCycle: Commercial Operations Now On The Near Term Horizon
PureCycle is making progress towards commercial operations at its polypropylene recycling facility, with potential customers using PCT recycled pellets in numerous products. The company still faces technical challenges but has resolved many issues in the first half of 2024. in resolving operational issues at its IronTon facility. PCT's financial situation has changed, it is low on cash and must prove the commercial viability of its operation as well as its technical viability.
PureCycle to Receive Expanded FDA No Objection Letter for PureFive(TM) Resin Use in Cosmetics, Personal Care and Food Applications
ORLANDO, FL / ACCESSWIRE / June 11, 2024 / PureCycle Technologies, Inc. (NASDAQ:PCT), today, announced the receipt of a Letter of No Objection (LNO) from the United States Food & Drug Administration (FDA) confirming that the Company's PureFive™ Ultra-Pure Recycled resin is suitable for use in food-contact applications. This LNO expands upon a previous no-objection letter to PureCycle from the FDA, confirming that the Agency considers PureFive™ Ultra-Pure Recycled resin to be suitably pure for use in contact with all food types under FDA's Conditions of Use A through H.
PureCycle to Participate in Stifel's 2024 Cross Sector Insight Conference
ORLANDO, FL / ACCESSWIRE / June 4, 2024 / PureCycle Technologies, Inc. (NASDAQ:PCT) is scheduled to participate in Stifel's upcoming investor conference on June 5. Details and the link to participate are below: Date: Wednesday, June 5, 2024 Time: 10:20 a.m.
PureCycle Provides Update on Ironton Purification Facility
IRONTON, OH / ACCESSWIRE / June 3, 2024 / PureCycle Technologies, Inc. (Nasdaq:PCT), today, announced that the Company's flagship purification facility in Ironton, Ohio is demonstrating improved reliability and product quality since resuming operations. The Ironton Facility initially resumed operations the week of May 20.
National Bank of Canada FI Grows Position in PureCycle Technologies, Inc. (NYSE:PCT)
National Bank of Canada FI boosted its stake in shares of PureCycle Technologies, Inc. (NYSE:PCT – Free Report) by 45.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,979 shares of the company’s stock after purchasing an additional 4,388 shares during the period. National Bank of Canada FI’s holdings in PureCycle Technologies were worth $52,000 at the end of the most recent reporting period. Other large investors also recently bought and sold shares of the company. RIA Advisory Group LLC acquired a new stake in PureCycle Technologies during the 4th quarter valued at approximately $40,000. Integrated Advisors Network LLC acquired a new stake in PureCycle Technologies during the 3rd quarter valued at approximately $56,000. Symphony Financial Ltd. Co. acquired a new stake in PureCycle Technologies during the 4th quarter valued at approximately $43,000. Monashee Investment Management LLC acquired a new stake in PureCycle Technologies during the 3rd quarter valued at approximately $66,000. Finally, Stratos Wealth Advisors LLC acquired a new stake in PureCycle Technologies during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 63.01% of the company’s stock. PureCycle Technologies Stock Performance Shares of NYSE PCT opened at $5.35 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.84. PureCycle Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $11.89. The company has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $4.65. The stock has a market cap of $880.77 million, a price-to-earnings ratio of -5.25 and a beta of 1.60. PureCycle Technologies (NYSE:PCT – Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. As a group, analysts predict that PureCycle Technologies, Inc. will post -0.73 earnings per share for the current year. Insider Activity at PureCycle Technologies In other news, Director Fernando Musa bought 18,303 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $5.46 per share, for a total transaction of $99,934.38. Following the purchase, the director now directly owns 68,413 shares in the company, valued at approximately $373,534.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.44% of the company’s stock. About PureCycle Technologies (Free Report) 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. Read More Five stocks we like better than PureCycle Technologies 3 Stocks to Consider Buying in October MarketBeat Week in Review – 5/13 – 5/17 10 Best Airline Stocks to Buy Take-Two Interactive Software Offers 2nd Chance for Investors What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
