SWS Partners Invests $11.64 Million in PureCycle Technologies, Inc. $PCT

Key Points

• SWS Partners purchased 1.43 million shares of PureCycle Technologies worth approximately $11.64 million, making PCT its seventh-largest holding and representing about 2.5% of its portfolio.
• Institutional investors own approximately 63.01% of PureCycle’s stock, while analyst views remain mixed; the consensus rating is “Moderate Buy” with an average price target of $11.75.
• PureCycle reported a quarterly loss of $0.80 per share, missing estimates by $0.51, while revenue of $4.51 million also fell short of expectations. Shares opened at $6.95, well below their 12-month high of $15.49.

SWS Partners purchased a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,434,924 shares of the company's stock, valued at approximately $11,637,000. PureCycle Technologies makes up 2.5% of SWS Partners' investment portfolio, making the stock its 7th biggest holding. SWS Partners owned about 0.79% of PureCycle Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focused Wealth Management Inc boosted its stake in PureCycle Technologies by 7.1% in the 4th quarter. Focused Wealth Management Inc now owns 15,005 shares of the company's stock worth $129,000 after purchasing an additional 1,000 shares during the period. Integrated Wealth Concepts LLC grew its holdings in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company's stock valued at $253,000 after buying an additional 1,516 shares in the last quarter. ProShare Advisors LLC increased its position in shares of PureCycle Technologies by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company's stock valued at $204,000 after buying an additional 1,526 shares during the period. Lido Advisors LLC increased its position in shares of PureCycle Technologies by 5.0% during the third quarter. Lido Advisors LLC now owns 32,824 shares of the company's stock valued at $432,000 after buying an additional 1,574 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of PureCycle Technologies by 1.7% in the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company's stock worth $574,000 after buying an additional 1,823 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PCT. Weiss Ratings restated a "sell (e+)" rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Wall Street Zen lowered shares of PureCycle Technologies from a "sell" rating to a "strong sell" rating in a report on Sunday, May 10th. TD Cowen lowered their target price on shares of PureCycle Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Friday, May 8th. Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a report on Tuesday, June 16th. Finally, Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.75.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $6.95 on Friday. The stock's 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $8.04. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $15.49. The firm has a market capitalization of $1.40 billion, a P/E ratio of -4.76 and a beta of 2.57. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings results 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). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The business had revenue of $4.51 million for the quarter, compared to the consensus estimate of $6.11 million. As a group, equities analysts anticipate that PureCycle Technologies, Inc. will post -0.99 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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