Apella Capital LLC Invests $286,000 in PureCycle Technologies, Inc. (NASDAQ:PCT)

Apella Capital LLC bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 44,065 shares of the company's stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCT. Duquesne Family Office LLC bought a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $16,323,000. T. Rowe Price Investment Management Inc. bought a new stake in PureCycle Technologies in the 4th quarter valued at approximately $13,859,000. Vanguard Group Inc. boosted its position in PureCycle Technologies by 5.7% during the 4th 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 last quarter. Polar Asset Management Partners Inc. bought a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $3,290,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of PureCycle Technologies in the fourth quarter valued at approximately $2,941,000. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Up 9.5%

PCT stock traded up $0.94 during mid-day trading on Monday, reaching $10.82. The company had a trading volume of 3,893,786 shares, compared to its average volume of 2,509,199. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -7.21 and a beta of 1.80. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The stock has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $9.09. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Cowen reduced their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

PureCycle Technologies Profile

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.