Integrity Alliance LLC. Buys Shares of 40,000 PureCycle Technologies, Inc. $PCT

Key Points

• Integrity Alliance LLC has invested $277,000 in PureCycle Technologies, acquiring 40,000 shares in the first quarter.
• Institutional investors now own 63.01% of PureCycle Technologies' stock, reflecting a trend of increased investment from multiple hedge funds.
• Recent analyst ratings for PureCycle Technologies include two "Strong Buy" ratings and a consensus price target of $15.00, despite the stock's recent earnings miss.

Integrity Alliance LLC. bought a new position 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 bought 40,000 shares of the company's stock, valued at approximately $277,000.

Several other institutional investors also recently modified their holdings of PCT. Duquesne Family Office LLC grew its position in shares of PureCycle Technologies by 111.3% during the 1st quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company's stock worth $23,285,000 after buying an additional 1,772,342 shares during the period. Samlyn Capital LLC grew its position in shares of PureCycle Technologies by 19.1% during the 1st quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company's stock worth $43,057,000 after buying an additional 997,337 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of PureCycle Technologies by 66.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,249,781 shares of the company's stock worth $15,569,000 after buying an additional 897,694 shares during the period. Huntleigh Advisors Inc. acquired a new position in shares of PureCycle Technologies during the 1st quarter worth about $4,844,000. Finally, Vanguard Group Inc. grew its position in shares of PureCycle Technologies by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company's stock worth $102,149,000 after buying an additional 660,837 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Northland Capmk upgraded PureCycle Technologies to a "strong-buy" rating in a report on Tuesday, August 26th. Northland Securities began coverage on PureCycle Technologies in a research note on Wednesday, August 27th. They set an "outperform" rating and a $16.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Cowen restated a "buy" rating on shares of PureCycle Technologies in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $15.00.

PureCycle Technologies Stock Up 4.5%

PCT stock traded up $0.59 during mid-day trading on Thursday, hitting $13.77. 1,719,802 shares of the company were exchanged, compared to its average volume of 2,080,191. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. The firm has a market cap of $2.48 billion, a P/E ratio of -8.15 and a beta of 2.01. The firm's 50 day simple moving average is $13.91 and its 200 day simple moving average is $10.73. PureCycle Technologies, Inc. has a 1-year low of $5.40 and a 1-year high of $17.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced 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 business had revenue of $1.65 million for the quarter, compared to analysts' expectations of $4.10 million. On average, sell-side analysts predict 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.