Deutsche Bank AG Invests $1.40 Million in PureCycle Technologies, Inc. $PCT

Key Points

• Deutsche Bank AG acquired 172,350 shares of PureCycle Technologies in the second quarter, worth approximately $1.40 million, giving it a 0.10% stake. Institutional investors and hedge funds collectively own 63.01% of the company.
• PureCycle’s shares opened at $6.50, down 2.3%, and remain well below their 52-week high of $15.49. The company reported a quarterly loss of $0.80 per share and revenue of $4.51 million, missing analysts’ expectations on both measures.
• Analyst sentiment is mixed, with ratings spanning Buy, Hold and Sell; MarketBeat reports an overall “Hold” consensus and an average price target of $11.75.

Deutsche Bank AG purchased a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 172,350 shares of the company's stock, valued at approximately $1,398,000. Deutsche Bank AG owned about 0.10% of PureCycle Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PCT. Royal Bank of Canada raised its holdings in shares of PureCycle Technologies by 62.4% in the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company's stock worth $7,213,000 after buying an additional 400,520 shares during the period. AQR Capital Management LLC grew its position in PureCycle Technologies by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company's stock valued at $145,000 after acquiring an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in PureCycle Technologies by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company's stock valued at $253,000 after acquiring an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PureCycle Technologies by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company's stock worth $507,000 after purchasing an additional 3,161 shares during the period. Finally, Millennium Management LLC purchased a new stake in PureCycle Technologies in the first quarter worth $3,770,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Down 2.3%

PureCycle Technologies stock opened at $6.50 on Friday. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. The business's 50-day simple moving average is $6.99 and its two-hundred day simple moving average is $7.80. The company has a market cap of $1.31 billion, a PE ratio of -4.45 and a beta of 2.57. PureCycle Technologies, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $15.49.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.51). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The business had revenue of $4.51 million during the quarter, compared to analysts' expectations of $6.11 million. Equities analysts anticipate that PureCycle Technologies, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

PCT has been the topic of a number of research reports. Northland Securities set a $13.00 target price on shares of PureCycle Technologies in a research report on Friday, June 12th. Cantor Fitzgerald dropped their price objective on PureCycle Technologies from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. TD Cowen reduced their price objective on PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, May 8th. Alembic Global Advisors set a $16.00 target price on PureCycle Technologies in a research report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PureCycle Technologies in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.75.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.

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