Fox Run Management L.L.C. Takes Position 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 shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 26,281 shares of the company's stock, valued at approximately $182,000.

A number of other institutional investors have also recently bought and sold shares of PCT. NBC Securities Inc. acquired a new position in PureCycle Technologies during the first quarter worth approximately $25,000. Sterling Capital Management LLC grew its stake in shares of PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock valued at $33,000 after buying an additional 2,861 shares during the period. CWM LLC increased its holdings in shares of PureCycle Technologies by 158.7% during the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock worth $34,000 after buying an additional 3,043 shares during the last quarter. KBC Group NV acquired a new stake in shares of PureCycle Technologies during the 1st quarter worth $41,000. Finally, Kathmere Capital Management LLC purchased a new position in shares of PureCycle Technologies in the 1st quarter worth $69,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PCT shares. Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Cowen reiterated a "buy" rating on shares of PureCycle Technologies in a report on Friday, August 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 target price on shares of PureCycle Technologies in a research report on Friday, August 8th. Finally, TD Cowen raised shares of PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.67.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $12.59 on Thursday. The business's 50-day simple moving average is $13.94 and its 200 day simple moving average is $10.13. The company has a market cap of $2.27 billion, a P/E ratio of -7.45 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. PureCycle Technologies, Inc. has a one year low of $4.50 and a one year high of $17.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $1.65 million for the quarter, compared to the consensus estimate of $4.10 million. On average, sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal 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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