SWS Partners Acquires 20,547 Shares of PureCycle Technologies, Inc. $PCT

Key Points

• SWS Partners increased its stake in PureCycle Technologies by 2.8%, acquiring an additional 20,547 shares to reach a total of 757,279 shares, representing 1.6% of its portfolio.
• Institutional investors and hedge funds collectively own 63.01% of PureCycle Technologies, highlighting strong institutional interest in the company.
• PureCycle Technologies reported an EPS of (0.35) for the last quarter, missing estimates, with revenue of $1.65 million compared to anticipated $4.10 million.

SWS Partners boosted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 757,279 shares of the company's stock after buying an additional 20,547 shares during the period. PureCycle Technologies makes up about 1.6% of SWS Partners' portfolio, making the stock its 10th largest position. SWS Partners owned approximately 0.42% of PureCycle Technologies worth $5,240,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Integrity Alliance LLC. acquired a new position in PureCycle Technologies during the first quarter worth $277,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PureCycle Technologies by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 284,860 shares of the company's stock worth $1,971,000 after buying an additional 23,609 shares during the last quarter. Sylebra Capital LLC raised its holdings in PureCycle Technologies by 1.9% during the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company's stock worth $235,817,000 after buying an additional 619,925 shares during the last quarter. Samlyn Capital LLC raised its holdings in PureCycle Technologies by 19.1% during the first quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company's stock worth $43,057,000 after buying an additional 997,337 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in PureCycle Technologies during the first quarter worth $3,770,000. Institutional investors and hedge funds own 63.01% of the company's stock.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.19 on Thursday. PureCycle Technologies, Inc. has a 52-week low of $5.07 and a 52-week high of $17.37. The company has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $10.58. 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 company has a market capitalization of $2.38 billion, a PE ratio of -7.80 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $4.10 million. On average, research analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on PCT shares. Wall Street Zen downgraded shares of PureCycle Technologies from a "hold" rating to a "sell" rating in a report on Monday, July 21st. TD Cowen upgraded shares of PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Northland Securities initiated coverage on shares of PureCycle Technologies in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $16.00 target price for the company. Northland Capmk upgraded shares of PureCycle Technologies to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Cowen reiterated a "buy" rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of "Buy" and an average target price of $15.00.

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.

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