40,000 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the company's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PureCycle Technologies by 5.7% in the fourth 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. Gladstone Institutional Advisory LLC lifted its holdings in PureCycle Technologies by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,462,652 shares of the company's stock valued at $35,492,000 after acquiring an additional 122,700 shares during the period. Geode Capital Management LLC lifted its holdings in PureCycle Technologies by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 3,185,348 shares of the company's stock valued at $32,658,000 after acquiring an additional 60,903 shares during the period. Duquesne Family Office LLC bought a new position in PureCycle Technologies in the fourth quarter valued at about $16,323,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in PureCycle Technologies in the fourth quarter valued at about $13,859,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Performance

PCT traded up $0.61 during midday trading on Friday, reaching $9.29. The company had a trading volume of 5,922,591 shares, compared to its average volume of 2,400,695. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average of $6.99 and a two-hundred day moving average of $9.42. The company has a market cap of $1.67 billion, a P/E ratio of -6.19 and a beta of 1.68. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $15.58.

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

Wall Street Analysts Forecast Growth

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

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.