Quantinno Capital Management LP Buys 375,486 Shares of PureCycle Technologies, Inc. $PCT

Key Points

• Quantinno Capital Management increased its PureCycle Technologies stake by 707.8%, adding 375,486 shares to own 428,534 shares worth approximately $2.22 million. Institutional investors collectively own 63.01% of the company.
• Analyst sentiment remains mixed: the stock has a “Moderate Buy” consensus rating and an average price target of $11.75, while recent targets range from $6 to $13 and include both buy and sell recommendations.
• PureCycle reported weaker-than-expected quarterly results, with an EPS loss of $0.80 versus the $0.29 consensus estimate and revenue of $4.51 million versus $6.11 million expected. Shares opened at $7.25, below their 12-month high of $15.49.

Quantinno Capital Management LP boosted its stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 707.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 428,534 shares of the company's stock after buying an additional 375,486 shares during the period. Quantinno Capital Management LP owned approximately 0.24% of PureCycle Technologies worth $2,224,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new stake in PureCycle Technologies during the first quarter worth approximately $33,000. Larson Financial Group LLC increased its stake in shares of PureCycle Technologies by 6,571.8% during the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company's stock worth $34,000 after purchasing an additional 2,563 shares during the period. Advisory Services Network LLC bought a new position in shares of PureCycle Technologies during the third quarter worth approximately $35,000. SHP Wealth Management acquired a new stake in PureCycle Technologies during the 4th quarter worth approximately $43,000. Finally, Sigma Planning Corp acquired a new stake in PureCycle Technologies during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on PCT shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PureCycle Technologies in a report on Friday, June 5th. Northland Securities set a $13.00 target price on shares of PureCycle Technologies in a research report on Friday, June 12th. Cantor Fitzgerald decreased their price target on shares of PureCycle Technologies from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday. Wall Street Zen lowered shares of PureCycle Technologies from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 10th. Finally, TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.75.

PureCycle Technologies Trading Up 0.6%

PCT opened at $7.25 on Tuesday. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $15.49. The company has a 50-day simple moving average of $7.99 and a 200 day simple moving average of $8.14. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.97 and a beta of 2.57.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.51). The firm had revenue of $4.51 million for the quarter, compared to analyst estimates of $6.11 million. PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%. Analysts predict that PureCycle Technologies, Inc. will post -1 EPS for the current fiscal year.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.

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