Diversify Advisory Services LLC Acquires New Shares in PureCycle Technologies, Inc. (NASDAQ:PCT)

Diversify Advisory Services LLC bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 16,473 shares of the company's stock, valued at approximately $115,000.

Several other hedge funds have also recently bought and sold shares of PCT. NBC Securities Inc. purchased a new stake in PureCycle Technologies during the 1st quarter worth about $25,000. Sterling Capital Management LLC boosted its position in shares of PureCycle Technologies by 775.3% in 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 during the period. CWM LLC boosted its position in shares of PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after purchasing an additional 3,043 shares during the period. KBC Group NV acquired a new stake in shares of PureCycle Technologies in the 1st quarter valued at about $41,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of PureCycle Technologies in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen raised 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 report on Monday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $16.00 price objective (up from $12.00) on shares of PureCycle Technologies in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PureCycle Technologies has an average rating of "Moderate Buy" and a consensus target price of $12.50.

PureCycle Technologies Stock Performance

PureCycle Technologies stock traded down $0.18 during mid-day trading on Friday, reaching $15.40. 2,091,811 shares of the company were exchanged, compared to its average volume of 3,842,066. The firm has a market cap of $2.77 billion, a PE ratio of -13.16 and a beta of 1.90. The firm's 50-day simple moving average is $12.71 and its two-hundred day simple moving average is $9.69. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $17.37. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.45 and a current ratio of 0.55.

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 analysts' consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million during the quarter, compared to analyst estimates of $4.27 million. Equities analysts predict 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.