Diversify Advisory Services LLC Buys Shares of 16,473 PureCycle Technologies, Inc. (NASDAQ:PCT)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCT. Deutsche Bank AG lifted its holdings in shares of PureCycle Technologies by 36.4% during the 4th quarter. Deutsche Bank AG now owns 111,525 shares of the company's stock valued at $1,143,000 after purchasing an additional 29,782 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of PureCycle Technologies by 22.6% during the fourth quarter. Cetera Investment Advisers now owns 60,988 shares of the company's stock worth $625,000 after acquiring an additional 11,261 shares during the period. Vanguard Group Inc. increased its stake in shares of PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after purchasing an additional 758,382 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of PureCycle Technologies by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 113,708 shares of the company's stock valued at $1,166,000 after buying an additional 4,170 shares during the period. Finally, Huntleigh Advisors Inc. acquired a new stake in PureCycle Technologies during the 1st quarter valued at $4,844,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Price Performance

PCT stock opened at $16.33 on Tuesday. The stock has a market cap of $2.93 billion, a PE ratio of -13.96 and a beta of 1.90. The stock has a 50-day moving average price of $11.97 and a two-hundred day moving average price of $9.49. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $17.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly 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 company had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million. Equities analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

PCT has been the topic of several research reports. TD Cowen upgraded shares of PureCycle Technologies to a "strong-buy" rating in a report on Monday, June 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 price objective (up previously from $12.00) on shares of PureCycle Technologies in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PureCycle Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

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.

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