Forum Financial Management LP lifted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 66.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 125,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Forum Financial Management LP owned approximately 0.07% of PureCycle Technologies worth $1,712,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PCT. CWM LLC grew its stake in shares of PureCycle Technologies by 158.7% during the first quarter. CWM LLC now owns 4,960 shares of the company's stock worth $34,000 after acquiring an additional 3,043 shares during the last quarter. KBC Group NV purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $41,000. Kathmere Capital Management LLC purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $69,000. LJI Wealth Management LLC purchased a new stake in shares of PureCycle Technologies during the first quarter worth about $86,000. Finally, GAMMA Investing LLC grew its stake in shares of PureCycle Technologies by 1,693.0% during the first quarter. GAMMA Investing LLC now owns 12,587 shares of the company's stock worth $87,000 after acquiring an additional 11,885 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PCT. Cowen restated a "buy" rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Seaport Res Ptn upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of PureCycle Technologies in a research report on Wednesday, October 8th. Wall Street Zen lowered PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 target price on shares of PureCycle Technologies in a research report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.00.
Check Out Our Latest Research Report on PCT
PureCycle Technologies Stock Performance
Shares of PCT opened at $12.94 on Thursday. The stock has a 50-day simple moving average of $13.57 and a 200-day simple moving average of $11.74. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. The stock has a market capitalization of $2.33 billion, a PE ratio of -7.66 and a beta of 2.01. PureCycle Technologies, Inc. has a 1 year low of $5.40 and a 1 year high of $17.37.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $1.65 million during the quarter, compared to analysts' expectations of $4.10 million. On average, analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.
PureCycle Technologies Company Profile
(
Free Report)
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.
Further Reading
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