Rokos Capital Management LLP Purchases New Shares in PureCycle Technologies, Inc. $PCT

Key Points

• Rokos Capital Management acquired 1.45 million PureCycle Technologies shares worth approximately $7.5 million, representing about 0.80% of the company. Institutional investors collectively own 63.01% of PCT.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Moderate Buy” rating and a $12.25 price target, while individual targets range from $6 to $16 and some firms maintain sell ratings.
• PureCycle reported a quarterly loss of $0.21 per share but beat estimates, while revenue of $4.13 million exceeded expectations. Shares opened at $5.99, well below their 52-week high of $15.58.

Rokos Capital Management LLP purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,448,784 shares of the company's stock, valued at approximately $7,526,000. Rokos Capital Management LLP owned about 0.80% of PureCycle Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new stake in PureCycle Technologies in the 1st quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in shares of PureCycle Technologies by 6,571.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company's stock worth $34,000 after buying an additional 2,563 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of PureCycle Technologies in the third quarter valued at approximately $35,000. SHP Wealth Management bought a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $43,000. Finally, Sigma Planning Corp purchased a new stake in shares of PureCycle Technologies during the first quarter valued at approximately $53,000. 63.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PCT shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of PureCycle Technologies in a report on Friday, June 5th. Wall Street Zen downgraded PureCycle Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, May 10th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a report on Friday, June 12th. Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a research report on Tuesday, June 16th. Finally, TD Cowen decreased their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.25.

PureCycle Technologies Stock Performance

Shares of PCT opened at $5.99 on Tuesday. The firm has a market cap of $1.08 billion, a PE ratio of -4.07 and a beta of 2.50. The stock's fifty day moving average price is $9.05 and its two-hundred day moving average price is $8.43. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. PureCycle Technologies, Inc. has a 1 year low of $4.93 and a 1 year high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to analysts' expectations of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. On average, equities research analysts forecast that PureCycle Technologies, Inc. will post -1 EPS for the current year.

PureCycle Technologies 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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