Why PureCycle Technologies Rocketed Nearly 40% Today [Yahoo! Finance]
PureCycle Technologies, Inc. - Common stock (PCT)
Company Research
Source: Yahoo! Finance
The company, which is looking to commercialize its polypropylene recycling technology, received a cash infusion today from investors. While the cash raise will dilute investors somewhat, it appears the funding set aside investor fears as the company nears commercialization of its recycling technology. A show of confidence Today, PureCycle issued a press release disclosing a $90 million raise from existing private equity partners Sylebra Capital Management and Samlyn Capital, LLC. The $90 million consists of $50 million in preferred stock and $40 million raised in the form of an equity raise at $4.69, which was yesterday's closing stock price. Additionally, PureCycle issued 5 million warrants to its partners that can be converted into stock at $11.50 per share, with an expiration date of Dec. 1, 2030. Apparently, investors were enthused about the cash infusion, as the company only had about $11 million in cash at the end of last quarter. In addition, investors may have been enco
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PCT
News
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its price target raised by analysts at TD Cowen from $10.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its "overweight" rating re-affirmed by analysts at Cantor Fitzgerald. They now have a $14.00 price target on the stock.MarketBeat
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its price target raised by analysts at Stifel Nicolaus from $8.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- PureCycle Technologies Inc (PCT) Q3 2024 Earnings Call Highlights: Record Production Growth and ... [Yahoo! Finance]Yahoo! Finance
- PureCycle Technologies, Inc. (PCT): Among the Best Recycling Stocks to Buy According to Hedge Funds [Yahoo! Finance]Yahoo! Finance
PCT
Earnings
- 5/7/24 - Miss
PCT
Sec Filings
- 11/20/24 - Form S-3
- 11/15/24 - Form 10-Q
- 11/13/24 - Form NT
- PCT's page on the SEC website