D. E. Shaw & Co. Inc. Lowers Stock Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

D. E. Shaw & Co. Inc. reduced its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,989 shares of the company's stock after selling 101,885 shares during the period. D. E. Shaw & Co. Inc. owned 0.05% of PureCycle Technologies worth $953,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in PureCycle Technologies by 286.0% in 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 in the last quarter. Sterling Capital Management LLC boosted its position in shares of PureCycle Technologies by 775.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares during the last quarter. US Bancorp DE grew its holdings in PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after buying an additional 2,019 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in PureCycle Technologies during the 4th quarter valued at $80,000. Finally, Keudell Morrison Wealth Management bought a new position in PureCycle Technologies during the 4th quarter valued at $117,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Down 4.9%

PCT traded down $0.50 during trading on Thursday, reaching $9.75. The stock had a trading volume of 2,825,175 shares, compared to its average volume of 2,472,493. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -6.50 and a beta of 1.68. The stock's 50 day moving average is $7.28 and its two-hundred day moving average is $9.21. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year 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 (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. As a group, analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered 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.