Abundance Wealth Counselors Has $16.75 Million Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Abundance Wealth Counselors trimmed its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,420,887 shares of the company's stock after selling 278,800 shares during the quarter. PureCycle Technologies makes up 3.5% of Abundance Wealth Counselors' holdings, making the stock its 5th biggest holding. Abundance Wealth Counselors owned approximately 1.35% of PureCycle Technologies worth $16,753,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Duquesne Family Office LLC acquired a new position in shares of PureCycle Technologies in the fourth quarter worth approximately $16,323,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of PureCycle Technologies in the fourth quarter worth approximately $13,859,000. Vanguard Group Inc. lifted its stake in shares of PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after acquiring an additional 758,382 shares during the period. Huntleigh Advisors Inc. acquired a new position in shares of PureCycle Technologies in the first quarter worth approximately $4,844,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of PureCycle Technologies in the fourth quarter worth approximately $3,290,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PCT. Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. TD Cowen lowered their target price on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

PureCycle Technologies Trading Up 0.6%

PCT stock traded up $0.08 during mid-day trading on Monday, reaching $13.11. The company's stock had a trading volume of 4,041,173 shares, compared to its average volume of 2,662,292. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -11.21 and a beta of 1.80. The business's 50 day moving average price is $8.90 and its 200 day moving average price is $9.03. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its earnings results 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 business had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. On average, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current 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.