Fox Run Management L.L.C. Purchases New Holdings in PureCycle Technologies, Inc. $PCT

Key Points

• Fox Run Management L.L.C. acquired 26,281 shares of PureCycle Technologies, Inc. during the first quarter, valued at approximately $182,000.
• PureCycle Technologies reported a quarterly loss of ($0.35) EPS, missing analysts' estimates, with revenues significantly below expectations at $1.65 million.
• The stock has a consensus rating of "Buy" with a price target of $14.67, despite a recent downgrade from a "hold" to a "sell" rating by one analyst.

Fox Run Management L.L.C. acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,281 shares of the company's stock, valued at approximately $182,000.

A number of other large investors have also added to or reduced their stakes in PCT. Summit Investment Advisors Inc. increased its position in shares of PureCycle Technologies by 11.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock valued at $132,000 after purchasing an additional 1,352 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in PureCycle Technologies by 11.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,049 shares of the company's stock valued at $118,000 after acquiring an additional 1,753 shares during the period. Arizona State Retirement System boosted its holdings in PureCycle Technologies by 5.9% during 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 period. Nwam LLC lifted its holdings in shares of PureCycle Technologies by 11.8% in the 1st quarter. Nwam LLC now owns 21,058 shares of the company's stock worth $146,000 after buying an additional 2,220 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $718,000 after buying an additional 2,360 shares during the period. Institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Up 6.9%

NASDAQ PCT traded up $0.88 during trading on Tuesday, reaching $13.60. 2,373,714 shares of the company's stock were exchanged, compared to its average volume of 2,934,952. The stock has a market cap of $2.45 billion, a P/E ratio of -8.05 and a beta of 1.94. 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 company has a 50 day moving average price of $14.00 and a two-hundred day moving average price of $10.26. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $1.65 million during the quarter, compared to the consensus estimate of $4.10 million. On average, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCT shares. Cowen reiterated a "buy" rating on shares of PureCycle Technologies in a report on Friday, August 8th. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price target on shares of PureCycle Technologies in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $14.67.

About PureCycle Technologies

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.