Copia Wealth Management Invests $514,000 in PureCycle Technologies, Inc. (NASDAQ:PCT)

Copia Wealth Management bought a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,166 shares of the company's stock, valued at approximately $514,000.

Several other large investors have also made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in PureCycle Technologies by 0.4% during the 4th 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 during the last quarter. Summit Investment Advisors Inc. lifted its position in 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 purchasing an additional 1,352 shares during the period. US Bancorp DE lifted its position in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after purchasing an additional 2,019 shares during the period. Arizona State Retirement System raised its position in shares of PureCycle Technologies by 6.1% in the 4th 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 during the period. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of PureCycle Technologies by 13.8% in 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 period. Institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Down 4.9%

NASDAQ PCT traded down $0.50 during trading hours on Thursday, reaching $9.75. 2,825,175 shares of the company's stock were exchanged, compared to its average volume of 2,472,491. The company's 50-day moving average is $7.28 and its two-hundred day moving average is $9.21. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -6.50 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $4.27 million. On average, analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut 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 report on Thursday, May 8th.

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.