PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the company's stock after selling 270,000 shares during the period. Forum Financial Management LP's holdings in PureCycle Technologies were worth $308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in PureCycle Technologies by 5.7% in the fourth 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 during the period. Gladstone Institutional Advisory LLC lifted its stake in shares of PureCycle Technologies by 3.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock worth $35,492,000 after buying an additional 122,700 shares during the last quarter. Geode Capital Management LLC raised its stake in PureCycle Technologies by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 3,185,348 shares of the company's stock worth $32,658,000 after purchasing an additional 60,903 shares in the last quarter. Duquesne Family Office LLC bought a new position in PureCycle Technologies in the 4th quarter valued at about $16,323,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in PureCycle Technologies during the 4th quarter worth approximately $13,859,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

Separately, TD Cowen dropped their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

PureCycle Technologies Stock Performance

PCT traded down $0.33 during midday trading on Friday, hitting $9.42. 2,873,968 shares of the company traded hands, compared to its average volume of 2,474,092. The company's 50-day moving average is $7.28 and its 200 day moving average is $9.21. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $1.69 billion, a PE ratio of -6.28 and a beta of 1.68.

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 during the quarter, compared to the consensus estimate of $4.27 million. On average, research analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

PureCycle Technologies Company 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.