Marshall Wace LLP Makes New Investment in PureCycle Technologies, Inc. (NASDAQ:PCT)

Marshall Wace LLP acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 58,301 shares of the company's stock, valued at approximately $598,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCT. Jones Financial Companies Lllp raised its stake in PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company's stock valued at $32,000 after buying an additional 2,291 shares during the last quarter. Sterling Capital Management LLC boosted its stake in PureCycle Technologies by 775.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company's stock worth $33,000 after purchasing an additional 2,861 shares in the last quarter. US Bancorp DE grew 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 purchasing an additional 2,019 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in PureCycle Technologies during the 4th quarter valued at about $80,000. Finally, Keudell Morrison Wealth Management bought a new position in shares of PureCycle Technologies in the fourth quarter worth approximately $117,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock traded up $0.94 during mid-day trading on Thursday, reaching $7.50. 2,686,185 shares of the stock traded hands, compared to its average volume of 2,340,991. The stock has a market capitalization of $1.35 billion, a PE ratio of -5.00 and a beta of 1.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The business's 50-day moving average is $7.05 and its 200-day moving average is $9.65. PureCycle Technologies, Inc. has a 12-month low of $4.50 and a 12-month high of $15.58.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). As a group, sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.