PureCycle Technologies, Inc. $PCT is SWS Partners' 10th Largest Position

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 lifted its position 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 13F filing with the Securities & Exchange Commission. The institutional investor owned 757,279 shares of the company's stock after acquiring an additional 20,547 shares during the quarter. PureCycle Technologies makes up approximately 1.6% of SWS Partners' portfolio, making the stock its 10th biggest position. SWS Partners owned 0.42% of PureCycle Technologies worth $5,240,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages recently issued reports on PCT. Northland Securities began coverage on PureCycle Technologies in a research report on Wednesday, August 27th. They set an "outperform" rating and a $16.00 target price for the company. TD Cowen raised PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. Northland Capmk raised PureCycle Technologies to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price target 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. Based on data from MarketBeat, PureCycle Technologies has a consensus rating of "Buy" and an average target price of $15.00.

PureCycle Technologies Price Performance

PCT traded down $0.34 during trading on Tuesday, reaching $13.29. The stock had a trading volume of 653,395 shares, compared to its average volume of 2,993,013. The stock has a market cap of $2.39 billion, a PE ratio of -7.86 and a beta of 2.01. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. PureCycle Technologies, Inc. has a one year low of $5.40 and a one year high of $17.37. The business has a 50-day moving average of $14.01 and a 200-day moving average of $10.67.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $1.65 million during the quarter, compared to analyst estimates of $4.10 million. As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal 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.