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

Duquesne Family Office LLC bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. 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 filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of PureCycle Technologies by 0.4% in the fourth quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock worth $3,306,000 after acquiring an additional 1,330 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of PureCycle Technologies by 11.7% during the 4th 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 during the last quarter. US Bancorp DE increased its stake in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after buying an additional 2,019 shares during the last quarter. Arizona State Retirement System raised 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 acquiring an additional 2,033 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in PureCycle Technologies by 13.8% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after acquiring an additional 2,230 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 research report on Thursday.

PureCycle Technologies Stock Performance

PureCycle Technologies stock traded down $0.26 during mid-day trading on Friday, reaching $7.29. The company's stock had a trading volume of 2,971,356 shares, compared to its average volume of 2,364,474. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -4.86 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 business has a 50 day moving average price of $6.98 and a 200-day moving average price of $9.59. 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 quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share 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 analyst estimates of $4.27 million. Sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.