30,000 Shares in PureCycle Technologies, Inc. $PCT Bought by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. acquired 30,000 shares of PureCycle Technologies, Inc. (NASDAQ:PCT) for approximately $411,000, indicating growing investor interest in the company.
• PureCycle's stock has recently been rated as a "strong-buy" by multiple research firms, with a consensus target price of $15.00 and a current market capitalization of $2.37 billion.
• The company reported a quarterly EPS of ($0.35), missing expectations, with analysts projecting a yearly EPS of -1.01 for the current year.

Cookson Peirce & Co. Inc. purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 30,000 shares of the company's stock, valued at approximately $411,000.

Other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of PureCycle Technologies by 158.7% in the first quarter. CWM LLC now owns 4,960 shares of the company's stock worth $34,000 after buying an additional 3,043 shares during the last quarter. KBC Group NV acquired a new position in PureCycle Technologies in the 1st quarter worth about $41,000. Kathmere Capital Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter valued at approximately $69,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of PureCycle Technologies during the second quarter valued at approximately $140,000. Finally, LJI Wealth Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter valued at approximately $86,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Up 1.5%

PCT opened at $13.14 on Friday. The business's 50-day simple moving average is $13.56 and its 200-day simple moving average is $11.79. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. PureCycle Technologies, Inc. has a one year low of $5.40 and a one year high of $17.37. The stock has a market capitalization of $2.37 billion, a P/E ratio of -7.78 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The firm had revenue of $1.65 million during the quarter, compared to analyst estimates of $4.10 million. Analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCT. Northland Capmk raised PureCycle Technologies to a "strong-buy" rating in a report on Tuesday, August 26th. Cowen restated a "buy" rating on shares of PureCycle Technologies in a research report on Friday, August 8th. Seaport Res Ptn upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Northland Securities started coverage on PureCycle Technologies in a report on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PureCycle Technologies presently has an average rating of "Buy" and a consensus target price of $15.00.

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.

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