Capital Fund Management S.A. Makes New $1.61 Million Investment in PureCycle Technologies, Inc. $PCT

Key Points

• Capital Fund Management S.A. has acquired 233,005 shares of PureCycle Technologies, Inc., valued at approximately $1.6 million, marking a new stake in the company.
• PureCycle Technologies has received mixed ratings from analysts, with one firm downgrading the stock to "sell" while others maintain "buy" and "strong-buy" ratings, resulting in a consensus price target of $14.67.
• The company recently reported earnings that fell short of estimates, with a loss of ($0.35) EPS compared to an expected loss of ($0.23), causing its stock to trade down 2.3% as of the latest report.

Capital Fund Management S.A. bought a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 233,005 shares of the company's stock, valued at approximately $1,612,000. Capital Fund Management S.A. owned approximately 0.13% of PureCycle Technologies at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of PureCycle Technologies by 11.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,049 shares of the company's stock valued at $118,000 after buying an additional 1,753 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of PureCycle Technologies by 5.9% during the first quarter. Arizona State Retirement System now owns 37,301 shares of the company's stock valued at $258,000 after purchasing an additional 2,084 shares during the last quarter. Nwam LLC raised its position in shares of PureCycle Technologies by 11.8% during the 1st quarter. Nwam LLC now owns 21,058 shares of the company's stock worth $146,000 after purchasing an additional 2,220 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PureCycle Technologies by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,088 shares of the company's stock worth $718,000 after purchasing an additional 2,360 shares during the last quarter. Finally, JT Stratford LLC lifted its holdings in shares of PureCycle Technologies by 3.5% in the 4th quarter. JT Stratford LLC now owns 74,321 shares of the company's stock worth $762,000 after purchasing an additional 2,501 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCT shares. Cowen reaffirmed a "buy" rating on shares of PureCycle Technologies in a research report on Friday, August 8th. Northland Capmk raised PureCycle Technologies to a "strong-buy" rating in a report on Tuesday. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. Wall Street Zen cut PureCycle Technologies from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Finally, Northland Securities started coverage on PureCycle Technologies in a report on Wednesday. They set an "outperform" rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, PureCycle Technologies currently has an average rating of "Buy" and a consensus target price of $15.00.

PureCycle Technologies Price Performance

NASDAQ:PCT traded down $0.23 during mid-day trading on Thursday, reaching $14.63. 2,573,656 shares of the stock were exchanged, compared to its average volume of 3,073,703. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $17.37. The company has a current ratio of 2.14, a quick ratio of 2.07 and a debt-to-equity ratio of 3.54. The business has a fifty day moving average price of $14.04 and a 200 day moving average price of $10.33. The firm has a market capitalization of $2.63 billion, a PE ratio of -8.66 and a beta of 1.94.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $4.10 million. Research analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

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.