Fortitude Advisory Group L.L.C. Purchases Shares of 22,000 PureCycle Technologies, Inc. (NASDAQ:PCT)

Fortitude Advisory Group L.L.C. acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,000 shares of the company's stock, valued at approximately $152,000.

A number of other large investors also recently modified their holdings of the stock. Copia Wealth Management raised its position in PureCycle Technologies by 11.8% in the 1st quarter. Copia Wealth Management now owns 56,064 shares of the company's stock valued at $388,000 after buying an additional 5,898 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in shares of PureCycle Technologies by 25.9% in the first quarter. Foster Victor Wealth Advisors LLC now owns 35,193 shares of the company's stock valued at $244,000 after purchasing an additional 7,242 shares during the last quarter. Deane Retirement Strategies Inc. increased its stake in PureCycle Technologies by 4.9% in the 1st quarter. Deane Retirement Strategies Inc. now owns 71,119 shares of the company's stock valued at $492,000 after buying an additional 3,325 shares during the last quarter. Lake Hills Wealth Management LLC increased its stake in PureCycle Technologies by 35.9% in the 1st quarter. Lake Hills Wealth Management LLC now owns 60,600 shares of the company's stock valued at $419,000 after buying an additional 16,004 shares during the last quarter. Finally, Apella Capital LLC bought a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $286,000. Institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a research report on Saturday. TD Cowen decreased their target price on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PureCycle Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $11.87 on Tuesday. 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 stock has a fifty day simple moving average of $8.18 and a two-hundred day simple moving average of $9.02. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -7.91 and a beta of 1.80.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to the consensus estimate of $4.27 million. Analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current 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.

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