Huntleigh Advisors Inc. Buys New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Huntleigh Advisors Inc. bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 700,000 shares of the company's stock, valued at approximately $4,844,000. PureCycle Technologies comprises about 0.9% of Huntleigh Advisors Inc.'s investment portfolio, making the stock its 25th largest holding. Huntleigh Advisors Inc. owned 0.39% of PureCycle Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG lifted its stake in PureCycle Technologies by 36.4% during the fourth quarter. Deutsche Bank AG now owns 111,525 shares of the company's stock worth $1,143,000 after purchasing an additional 29,782 shares in the last quarter. Cetera Investment Advisers lifted its stake in PureCycle Technologies by 22.6% during the fourth quarter. Cetera Investment Advisers now owns 60,988 shares of the company's stock worth $625,000 after purchasing an additional 11,261 shares in the last quarter. Vanguard Group Inc. lifted its stake in PureCycle Technologies by 5.7% during 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 in the last quarter. California State Teachers Retirement System lifted its stake in PureCycle Technologies by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 113,708 shares of the company's stock worth $1,166,000 after purchasing an additional 4,170 shares in the last quarter. Finally, US Bancorp DE lifted its stake in PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after purchasing an additional 2,019 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $16.00 price objective (up previously from $12.00) on shares of PureCycle Technologies in a research report on Tuesday, June 24th. TD Cowen raised PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen lowered PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

PureCycle Technologies Stock Performance

NASDAQ:PCT traded up $0.77 during mid-day trading on Monday, reaching $14.53. The stock had a trading volume of 4,360,259 shares, compared to its average volume of 2,741,481. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.45 and a current ratio of 0.55. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -12.42 and a beta of 1.90. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.58. The business has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $9.17.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its 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 business had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million. On average, analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal 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.