Polar Asset Management Partners Inc. Takes Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Polar Asset Management Partners Inc. bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 321,000 shares of the company's stock, valued at approximately $3,290,000. Polar Asset Management Partners Inc. owned approximately 0.18% of PureCycle Technologies as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Duquesne Family Office LLC acquired a new position in shares of PureCycle Technologies in the 4th quarter valued at $16,323,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of PureCycle Technologies in the 4th quarter valued at $13,859,000. Vanguard Group Inc. lifted its stake in PureCycle Technologies by 5.7% in the 4th 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 in the last quarter. Ethos Financial Group LLC purchased a new stake in PureCycle Technologies in the 4th quarter worth about $2,941,000. Finally, Drive Wealth Management LLC lifted its stake in PureCycle Technologies by 767.7% in the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after acquiring an additional 272,527 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Down 1.0%

Shares of PCT traded down $0.10 during midday trading on Wednesday, reaching $10.25. 3,910,220 shares of the stock were exchanged, compared to its average volume of 2,469,777. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58. The firm has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $9.23. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -6.83 and a beta of 1.68.

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

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price objective on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

About PureCycle Technologies

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.