SWS Partners Raises Holdings in PureCycle Technologies, Inc. $PCT

Key Points

• SWS Partners increased its holdings in PureCycle Technologies by 4.5% during the second quarter, now owning approximately 791,458 shares worth around $10.8 million.
• PureCycle reported an earnings per share (EPS) of ($0.35), missing the expected ($0.23), and revenue of $1.65 million against an expectation of $4.10 million.
• Analysts rate PureCycle Technologies with an average of "Buy" and an expected price target of $15.00, despite varied ratings including "sell," "strong-buy," and "overweight."

SWS Partners grew its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 791,458 shares of the company's stock after buying an additional 34,179 shares during the period. PureCycle Technologies accounts for about 2.9% of SWS Partners' investment portfolio, making the stock its 4th biggest holding. SWS Partners owned 0.44% of PureCycle Technologies worth $10,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in PureCycle Technologies in the 1st quarter valued at approximately $25,000. CWM LLC increased its position in PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company's stock valued at $34,000 after acquiring an additional 3,043 shares during the period. KBC Group NV acquired a new stake in PureCycle Technologies in the 1st quarter valued at approximately $41,000. Kathmere Capital Management LLC acquired a new stake in PureCycle Technologies in the 1st quarter valued at approximately $69,000. Finally, LJI Wealth Management LLC acquired a new stake in PureCycle Technologies in the 1st quarter valued at approximately $86,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $12.91 on Monday. PureCycle Technologies, Inc. has a 12 month low of $5.40 and a 12 month high of $17.37. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -7.64 and a beta of 2.01. The stock's 50 day moving average price is $13.63 and its 200 day moving average price is $10.99. The company has a debt-to-equity ratio of 3.54, a current ratio of 2.14 and a quick ratio of 2.07.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its 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 company had revenue of $1.65 million during the quarter, compared to analysts' expectations of $4.10 million. Equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCT has been the topic of several analyst reports. Wall Street Zen cut PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. TD Cowen upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Monday, June 23rd. Northland Capmk upgraded PureCycle Technologies to a "strong-buy" rating in a research report on Tuesday, August 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Northland Securities started coverage on PureCycle Technologies in a report on Wednesday, August 27th. They set an "outperform" rating and a $16.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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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