Samlyn Capital LLC Boosts Position in PureCycle Technologies, Inc. $PCT

Key Points

• Samlyn Capital LLC increased its holdings in PureCycle Technologies, Inc. by 19.1% in the 1st quarter, owning $43.06 million worth of shares.
• Institutional investors now own 63.01% of PureCycle Technologies, with several other funds also increasing their stakes recently.
• PureCycle Technologies reported a quarterly loss of ($0.35) EPS, falling short of analysts' estimates, with revenues of $1.65 million against expectations of $4.10 million.

Samlyn Capital LLC grew its stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,222,136 shares of the company's stock after acquiring an additional 997,337 shares during the quarter. Samlyn Capital LLC owned 3.47% of PureCycle Technologies worth $43,057,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Duquesne Family Office LLC boosted its holdings in shares of PureCycle Technologies by 111.3% in the 1st quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company's stock valued at $23,285,000 after buying an additional 1,772,342 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of PureCycle Technologies by 66.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,249,781 shares of the company's stock worth $15,569,000 after purchasing an additional 897,694 shares during the last quarter. Huntleigh Advisors Inc. acquired a new position in shares of PureCycle Technologies in the first quarter worth approximately $4,844,000. Vanguard Group Inc. raised its holdings in shares of PureCycle Technologies by 4.7% during the first quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company's stock valued at $102,149,000 after purchasing an additional 660,837 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter worth approximately $3,770,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PCT shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $16.00 target price on shares of PureCycle Technologies in a research report on Friday, August 8th. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. Northland Securities initiated coverage on shares of PureCycle Technologies in a report on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 price target on the stock. Cowen restated a "buy" rating on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, PureCycle Technologies has a consensus rating of "Buy" and a consensus price target of $15.00.

PureCycle Technologies Trading Down 0.4%

PCT stock traded down $0.05 during midday trading on Tuesday, reaching $13.34. The company's stock had a trading volume of 194,277 shares, compared to its average volume of 3,033,569. The stock has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $10.54. 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 capitalization of $2.40 billion, a price-to-earnings ratio of -7.84 and a beta of 2.01. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $17.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its quarterly 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 firm had revenue of $1.65 million during the quarter, compared to analysts' expectations of $4.10 million. On average, equities research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current 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.