TD Asset Management Inc Purchases New Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

TD Asset Management Inc acquired a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,098 shares of the company's stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCT. Vanguard Group Inc. raised its holdings in shares of PureCycle Technologies by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock worth $144,530,000 after acquiring an additional 758,382 shares during the last quarter. Geode Capital Management LLC increased its position in PureCycle Technologies by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 3,185,348 shares of the company's stock worth $32,658,000 after purchasing an additional 60,903 shares in the last quarter. Duquesne Family Office LLC acquired a new position in PureCycle Technologies in the 4th quarter valued at about $16,323,000. T. Rowe Price Investment Management Inc. purchased a new position in PureCycle Technologies in the 4th quarter valued at about $13,859,000. Finally, Northern Trust Corp lifted its holdings in PureCycle Technologies by 7.5% in the 4th quarter. Northern Trust Corp now owns 1,240,393 shares of the company's stock valued at $12,714,000 after purchasing an additional 86,233 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

PureCycle Technologies Trading Up 1.2%

Shares of NASDAQ PCT traded up $0.15 on Friday, reaching $12.50. 4,390,324 shares of the company traded hands, compared to its average volume of 3,082,660. The stock has a market capitalization of $2.25 billion, a PE ratio of -10.71 and a beta of 1.94. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $17.37. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average of $13.44 and a 200 day moving average of $9.92.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. 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 raised shares of PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $16.00 price target on shares of PureCycle Technologies in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

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.