321,000 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 321,000 shares of the company's stock, valued at approximately $3,290,000. Polar Asset Management Partners Inc. owned approximately 0.18% of PureCycle Technologies at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in PureCycle Technologies by 0.4% in the fourth quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock valued at $3,306,000 after buying an additional 1,330 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in PureCycle Technologies by 11.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock valued at $132,000 after buying an additional 1,352 shares in the last quarter. US Bancorp DE increased its holdings in PureCycle Technologies by 141.5% in the fourth 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 in the last quarter. Arizona State Retirement System increased its holdings in PureCycle Technologies by 6.1% in the fourth quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after buying an additional 2,033 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in PureCycle Technologies by 13.8% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after buying an additional 2,230 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

PureCycle Technologies Price Performance

Shares of PCT stock traded down $0.10 during trading hours on Wednesday, hitting $8.67. The company's stock had a trading volume of 1,806,919 shares, compared to its average volume of 2,408,256. The business has a fifty day moving average of $7.04 and a 200-day moving average of $9.34. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -5.78 and a beta of 1.68. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to analysts' expectations of $4.27 million. As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

PureCycle Technologies Company Profile

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.