Teacher Retirement System of Texas Takes $131,000 Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Teacher Retirement System of Texas bought a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,948 shares of the company's stock, valued at approximately $131,000.

Several other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its stake in shares of PureCycle Technologies by 36.4% during the 4th quarter. Deutsche Bank AG now owns 111,525 shares of the company's stock worth $1,143,000 after purchasing an additional 29,782 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of PureCycle Technologies by 22.6% during the 4th quarter. Cetera Investment Advisers now owns 60,988 shares of the company's stock valued at $625,000 after acquiring an additional 11,261 shares during the period. Vanguard Group Inc. lifted its position in shares of PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company's stock valued at $144,530,000 after acquiring an additional 758,382 shares during the period. California State Teachers Retirement System lifted its position in shares of PureCycle Technologies by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 113,708 shares of the company's stock valued at $1,166,000 after acquiring an additional 4,170 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of PureCycle Technologies during the 4th quarter valued at $1,415,000. Institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCT. Wall Street Zen downgraded PureCycle Technologies from a "hold" rating to a "sell" rating in a research report on Monday. TD Cowen raised PureCycle Technologies to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $16.00 target price (up previously from $12.00) on shares of PureCycle Technologies in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.50.

PureCycle Technologies Trading Up 2.5%

Shares of PureCycle Technologies stock opened at $16.92 on Monday. The stock has a market capitalization of $3.04 billion, a PE ratio of -14.46 and a beta of 1.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.45 and a current ratio of 0.55. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $17.37. The stock has a 50 day moving average price of $11.97 and a two-hundred day moving average price of $9.49.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to the consensus estimate of $4.27 million. As a group, equities analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

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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