American Century Companies Inc. Has $1.04 Million Stock Holdings in PureCycle Technologies, Inc. $PCT

Key Points

• American Century Companies Inc. has reduced its stake in PureCycle Technologies, Inc. by 50.7%, selling 154,922 shares during the first quarter.
• Deutsche Bank AG increased its holdings in PureCycle by 36.4%, adding 29,782 shares, while other institutional investors also enhanced their positions.
• PureCycle Technologies' stock is down 3.2% with a current market cap of $2.39 billion, and it recently reported an EPS of (0.35), missing analyst estimates.

American Century Companies Inc. decreased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,607 shares of the company's stock after selling 154,922 shares during the period. American Century Companies Inc. owned 0.08% of PureCycle Technologies worth $1,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in PureCycle Technologies in the 1st quarter worth approximately $25,000. CWM LLC raised its position in PureCycle Technologies by 158.7% during the first quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after acquiring an additional 3,043 shares in the last quarter. KBC Group NV purchased a new stake in PureCycle Technologies in the 1st quarter worth $41,000. Kathmere Capital Management LLC acquired a new stake in PureCycle Technologies in the 1st quarter valued at about $69,000. Finally, LJI Wealth Management LLC purchased a new position in PureCycle Technologies in the first quarter worth approximately $86,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Down 0.2%

Shares of PCT stock traded down $0.03 during trading hours on Monday, reaching $13.36. 857,955 shares of the stock were exchanged, compared to its average volume of 3,046,388. The company has a debt-to-equity ratio of 3.54, a current ratio of 2.14 and a quick ratio of 2.07. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $17.37. The business's fifty day moving average is $14.05 and its two-hundred day moving average is $10.51. The firm has a market capitalization of $2.41 billion, a P/E ratio of -7.93 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $1.65 million for the quarter, compared to analysts' expectations of $4.10 million. As a group, research analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on PCT shares. Wall Street Zen cut shares of PureCycle Technologies from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Northland Securities assumed coverage on shares of PureCycle Technologies in a report on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 target price on the stock. Cowen reaffirmed a "buy" rating on shares of PureCycle Technologies in a research report on Friday, August 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $16.00 price target on shares of PureCycle Technologies in a research note on Friday, August 8th. Finally, Northland Capmk raised shares of PureCycle Technologies to a "strong-buy" rating in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, PureCycle Technologies presently has an average rating of "Buy" and an average 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.