700,000 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Purchased by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 700,000 shares of the company's stock, valued at approximately $4,844,000. PureCycle Technologies accounts for 2.9% of Huntleigh Advisors Inc.'s portfolio, making the stock its 13th largest holding. Huntleigh Advisors Inc. owned approximately 0.39% of PureCycle Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fortitude Advisory Group L.L.C. acquired a new position in shares of PureCycle Technologies in the 1st quarter valued at $152,000. Copia Wealth Management raised its holdings in PureCycle Technologies by 11.8% in the 1st quarter. Copia Wealth Management now owns 56,064 shares of the company's stock worth $388,000 after purchasing an additional 5,898 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in PureCycle Technologies by 25.9% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 35,193 shares of the company's stock worth $244,000 after purchasing an additional 7,242 shares during the period. Deane Retirement Strategies Inc. raised its holdings in PureCycle Technologies by 4.9% in the 1st quarter. Deane Retirement Strategies Inc. now owns 71,119 shares of the company's stock worth $492,000 after purchasing an additional 3,325 shares during the period. Finally, Lake Hills Wealth Management LLC raised its stake in shares of PureCycle Technologies by 35.9% during the 1st quarter. Lake Hills Wealth Management LLC now owns 60,600 shares of the company's stock worth $419,000 after buying an additional 16,004 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Price Performance

NASDAQ PCT traded down $0.43 during mid-day trading on Wednesday, hitting $13.69. The stock had a trading volume of 7,364,606 shares, compared to its average volume of 2,639,950. The firm's 50 day moving average is $8.47 and its 200 day moving average is $9.09. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.58. 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 stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.70 and a beta of 1.80.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. Equities research analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCT has been the subject of a number of research analyst reports. TD Cowen reduced their price objective on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of PureCycle Technologies from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

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.