Highview Capital Management LLC DE Takes $324,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Highview Capital Management LLC DE acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,650 shares of the company's stock, valued at approximately $324,000.

Several other institutional investors have also modified their holdings of PCT. NewEdge Advisors LLC lifted its holdings in shares of PureCycle Technologies by 0.4% during the fourth quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock valued at $3,306,000 after purchasing an additional 1,330 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of PureCycle Technologies by 11.7% during the fourth 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. US Bancorp DE raised its position in PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the period. Arizona State Retirement System raised its position in PureCycle Technologies by 6.1% during the fourth quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after buying an additional 2,033 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its position in PureCycle Technologies by 13.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock valued at $188,000 after buying an additional 2,230 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Down 7.1%

NASDAQ:PCT opened at $8.14 on Thursday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -5.43 and a beta of 1.68. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The business's fifty day moving average price is $7.05 and its 200 day moving average price is $9.33.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analysts' expectations of $4.27 million. On average, sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.

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