Deutsche Bank AG Purchases 29,782 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Deutsche Bank AG boosted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,525 shares of the company's stock after buying an additional 29,782 shares during the period. Deutsche Bank AG owned approximately 0.06% of PureCycle Technologies worth $1,143,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after acquiring an additional 2,291 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of PureCycle Technologies by 775.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock worth $33,000 after buying an additional 2,861 shares during the period. US Bancorp DE raised its position in shares of PureCycle Technologies by 141.5% in the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock worth $35,000 after acquiring an additional 2,019 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in PureCycle Technologies in the fourth quarter valued at approximately $80,000. Finally, Keudell Morrison Wealth Management bought a new position in PureCycle Technologies during the fourth quarter worth $117,000. 63.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen lowered their target price on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

PureCycle Technologies Stock Down 1.3%

PureCycle Technologies stock traded down $0.13 during midday trading on Friday, hitting $9.62. 709,453 shares of the stock were exchanged, compared to its average volume of 2,465,719. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -6.41 and a beta of 1.68. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. 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 business's 50-day moving average price is $7.28 and its 200-day moving average price is $9.21.

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

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.