Huntleigh Advisors Inc. Invests $4.84 Million in PureCycle Technologies, Inc. (NASDAQ:PCT)

Huntleigh Advisors Inc. acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 700,000 shares of the company's stock, valued at approximately $4,844,000. PureCycle Technologies accounts for approximately 0.9% of Huntleigh Advisors Inc.'s portfolio, making the stock its 25th biggest holding. Huntleigh Advisors Inc. owned about 0.39% of PureCycle Technologies at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Deutsche Bank AG increased its stake in PureCycle Technologies by 36.4% in the 4th quarter. Deutsche Bank AG now owns 111,525 shares of the company's stock valued at $1,143,000 after buying an additional 29,782 shares during the period. Cetera Investment Advisers boosted its holdings in shares of PureCycle Technologies by 22.6% in the fourth quarter. Cetera Investment Advisers now owns 60,988 shares of the company's stock valued at $625,000 after acquiring an additional 11,261 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 758,382 shares during the period. California State Teachers Retirement System raised its holdings 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 position in PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after purchasing an additional 2,019 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analyst Weigh In

PCT has been the subject of a number of analyst reports. Wall Street Zen raised PureCycle Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 target price (up previously from $12.00) on shares of PureCycle Technologies in a report on Tuesday, June 24th. Finally, TD Cowen raised shares of PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Two analysts have rated the stock with a hold rating, two have given 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 an average price target of $12.50.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.67 on Friday. The business has a 50 day moving average price of $10.10 and a 200 day moving average price of $9.15. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.55 and a quick ratio of 0.45. The company has a market capitalization of $2.45 billion, a P/E ratio of -11.68 and a beta of 1.90. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS 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.

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