Integrity Alliance LLC. purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,000 shares of the company's stock, valued at approximately $277,000.
A number of other hedge funds also recently modified their holdings of the business. Sylebra Capital LLC raised its position in shares of PureCycle Technologies by 1.9% during the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company's stock worth $235,817,000 after purchasing an additional 619,925 shares during the period. Vanguard Group Inc. raised its position in PureCycle Technologies by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company's stock valued at $102,149,000 after buying an additional 660,837 shares during the last quarter. Samlyn Capital LLC raised its position in PureCycle Technologies by 19.1% in the 1st quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company's stock valued at $43,057,000 after buying an additional 997,337 shares during the last quarter. Duquesne Family Office LLC raised its position in PureCycle Technologies by 111.3% in the 1st quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company's stock valued at $23,285,000 after buying an additional 1,772,342 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in PureCycle Technologies by 66.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,249,781 shares of the company's stock valued at $15,569,000 after buying an additional 897,694 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.
Wall Street Analyst Weigh In
PCT has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 target price on shares of PureCycle Technologies in a research report on Friday, August 8th. Northland Capmk raised PureCycle Technologies to a "strong-buy" rating in a research report on Tuesday, August 26th. Cowen reissued a "buy" rating on shares of PureCycle Technologies in a research report on Friday, August 8th. Northland Securities initiated coverage on PureCycle Technologies in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 target price on the stock. Finally, Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $15.00.
Get Our Latest Stock Analysis on PureCycle Technologies
PureCycle Technologies Stock Down 0.1%
PCT stock opened at $13.30 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.14 and a debt-to-equity ratio of 3.54. PureCycle Technologies, Inc. has a twelve month low of $5.40 and a twelve month high of $17.37. The business has a 50 day moving average price of $14.03 and a two-hundred day moving average price of $10.63. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -7.87 and a beta of 2.01.
PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $1.65 million during the quarter, compared to the consensus estimate of $4.10 million. Analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.
PureCycle Technologies Profile
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Free Report)
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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