Forum Financial Management LP Has $519,000 Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Forum Financial Management LP lifted its position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 150.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the company's stock after buying an additional 45,000 shares during the quarter. Forum Financial Management LP's holdings in PureCycle Technologies were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCT. NewEdge Advisors LLC increased its holdings in shares of PureCycle Technologies by 0.4% in the 4th quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock valued at $3,306,000 after acquiring an additional 1,330 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of PureCycle Technologies by 11.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock valued at $132,000 after acquiring an additional 1,352 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of PureCycle Technologies by 5.9% in the 1st quarter. Arizona State Retirement System now owns 37,301 shares of the company's stock valued at $258,000 after acquiring an additional 2,084 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PureCycle Technologies by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,088 shares of the company's stock valued at $718,000 after acquiring an additional 2,360 shares during the last quarter. Finally, JT Stratford LLC increased its holdings in shares of PureCycle Technologies by 3.5% in the 4th quarter. JT Stratford LLC now owns 74,321 shares of the company's stock valued at $762,000 after acquiring an additional 2,501 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Up 2.5%

NASDAQ:PCT traded up $0.42 on Friday, hitting $16.92. 6,014,828 shares of the company's stock were exchanged, compared to its average volume of 2,861,013. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $17.37. The company has a market cap of $3.04 billion, a P/E ratio of -14.46 and a beta of 1.90. The firm has a 50-day moving average price of $11.97 and a 200-day moving average price of $9.50. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.45.

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 for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million. As a group, analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Ratings Changes

PCT has been the subject of several research analyst reports. Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a report on Monday, June 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 price target (up previously from $12.00) on shares of PureCycle Technologies in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.