Raymond James Financial Inc. Buys Shares of 138,027 PureCycle Technologies, Inc. (NASDAQ:PCT)

Raymond James Financial Inc. bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,027 shares of the company's stock, valued at approximately $1,415,000. Raymond James Financial Inc. owned 0.08% of PureCycle Technologies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of PureCycle Technologies by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after buying an additional 758,382 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter worth $2,941,000. Drive Wealth Management LLC lifted its holdings in shares of PureCycle Technologies by 767.7% during the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock valued at $3,157,000 after purchasing an additional 272,527 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in PureCycle Technologies by 3.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock worth $35,492,000 after buying an additional 122,700 shares during the last quarter. Finally, Maridea Wealth Management LLC acquired a new position in PureCycle Technologies during the 4th quarter valued at about $1,080,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT traded up $0.54 during trading on Thursday, hitting $7.10. The stock had a trading volume of 1,824,037 shares, compared to its average volume of 2,337,866. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The stock has a 50-day simple moving average of $7.05 and a two-hundred day simple moving average of $9.65. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -4.73 and a beta of 1.68.

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

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday.

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.