Lighthouse Investment Partners LLC Acquires Shares of 40,000 PureCycle Technologies, Inc. (NASDAQ:PCT)

Lighthouse Investment Partners LLC bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,000 shares of the company's stock, valued at approximately $410,000.

Several other institutional investors also recently bought and sold shares of PCT. Sanders Morris Harris LLC raised its holdings in PureCycle Technologies by 4.6% during the fourth quarter. Sanders Morris Harris LLC now owns 159,673 shares of the company's stock valued at $1,637,000 after buying an additional 6,979 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of PureCycle Technologies by 22.6% in the fourth quarter. SG Americas Securities LLC now owns 54,774 shares of the company's stock worth $561,000 after purchasing an additional 10,094 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of PureCycle Technologies in the fourth quarter worth about $193,000. Flagship Private Wealth LLC increased its stake in shares of PureCycle Technologies by 16.0% in the fourth quarter. Flagship Private Wealth LLC now owns 29,781 shares of the company's stock worth $305,000 after purchasing an additional 4,100 shares during the period. Finally, Drive Wealth Management LLC increased its stake in shares of PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock worth $3,157,000 after purchasing an additional 272,527 shares during the period. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Performance

Shares of PureCycle Technologies stock traded up $0.14 during trading on Tuesday, reaching $8.92. The company's stock had a trading volume of 624,366 shares, compared to its average volume of 2,400,670. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The business's fifty day moving average price is $7.01 and its 200-day moving average price is $9.34. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.95 and a beta of 1.68. PureCycle Technologies, Inc. has a one year low of $4.50 and a one 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) 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 analysts' expectations 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 year.

Analyst Ratings Changes

Separately, TD Cowen dropped their price objective on PureCycle Technologies from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

About PureCycle Technologies

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.