UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,251 shares of the company's stock after purchasing an additional 56,339 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of PureCycle Technologies worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PCT. NewEdge Advisors LLC lifted its position in PureCycle Technologies by 0.4% in the fourth quarter. NewEdge Advisors LLC now owns 322,491 shares of the company's stock valued at $3,306,000 after purchasing an additional 1,330 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in PureCycle Technologies by 11.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company's stock valued at $132,000 after buying an additional 1,352 shares during the last quarter. US Bancorp DE boosted its position in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company's stock valued at $35,000 after buying an additional 2,019 shares during the period. Arizona State Retirement System boosted its position in PureCycle Technologies by 6.1% during the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company's stock valued at $361,000 after buying an additional 2,033 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in PureCycle Technologies by 13.8% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company's stock worth $188,000 after acquiring an additional 2,230 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Trading Up 9.5%

Shares of PureCycle Technologies stock traded up $0.94 during midday trading on Monday, reaching $10.82. 3,893,786 shares of the company's stock traded hands, compared to its average volume of 2,509,199. The stock has a 50 day moving average of $7.57 and a 200-day moving average of $9.09. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58. The company has a market cap of $1.94 billion, a PE ratio of -7.21 and a beta of 1.80. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

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

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their target price on shares of PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

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.