Apella Capital LLC Buys New Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Apella Capital LLC bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,065 shares of the company's stock, valued at approximately $286,000.

Several other large investors have also added to or reduced their stakes in the business. NBC Securities Inc. bought a new position in PureCycle Technologies in the 1st quarter valued at about $25,000. Jones Financial Companies Lllp lifted its position in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after acquiring an additional 2,291 shares during the period. Sterling Capital Management LLC increased its stake in PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after purchasing an additional 2,861 shares in the last quarter. US Bancorp DE grew its stake in shares of PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in PureCycle Technologies during the fourth quarter valued at about $80,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Price Performance

Shares of PCT stock traded up $0.10 on Friday, reaching $9.88. The company's stock had a trading volume of 1,984,171 shares, compared to its average volume of 2,497,586. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -6.59 and a beta of 1.80. The stock's fifty day simple moving average is $7.51 and its 200-day simple moving average is $9.14. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.27) 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 analysts' expectations of $4.27 million. Analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lowered their price target on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock 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.