Duquesne Family Office LLC Acquires Shares of 1,592,500 PureCycle Technologies, Inc. (NASDAQ:PCT)

Duquesne Family Office LLC bought a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,592,500 shares of the company's stock, valued at approximately $16,323,000. Duquesne Family Office LLC owned 0.92% of PureCycle Technologies as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PCT. Cetera Investment Advisers boosted its holdings in PureCycle Technologies by 22.6% in the 4th quarter. Cetera Investment Advisers now owns 60,988 shares of the company's stock valued at $625,000 after purchasing an additional 11,261 shares during the last quarter. Bosun Asset Management LLC raised its stake in shares of PureCycle Technologies by 19.1% in the 4th quarter. Bosun Asset Management LLC now owns 51,440 shares of the company's stock valued at $527,000 after acquiring an additional 8,249 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of PureCycle Technologies by 44.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 31,100 shares of the company's stock valued at $319,000 after acquiring an additional 9,564 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of PureCycle Technologies in the 4th quarter valued at approximately $192,000. Finally, Northern Trust Corp raised its stake in shares of PureCycle Technologies by 7.5% in the 4th quarter. Northern Trust Corp now owns 1,240,393 shares of the company's stock valued at $12,714,000 after acquiring an additional 86,233 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Up 7.4%

PCT traded up $0.54 during trading hours on Monday, hitting $7.83. 2,426,898 shares of the company's stock were exchanged, compared to its average volume of 2,365,307. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The firm has a 50 day moving average of $6.98 and a 200 day moving average of $9.55. The firm has a market cap of $1.41 billion, a P/E ratio of -5.25 and a beta of 1.68. 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 for the quarter, missing the consensus estimate 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. Analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

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

PureCycle Technologies 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.