OneDigital Investment Advisors LLC Buys Shares of 118,916 PureCycle Technologies, Inc. $PCT

OneDigital Investment Advisors LLC purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 118,916 shares of the company’s stock, valued at approximately $964,000.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Effects LLC purchased a new stake in shares of PureCycle Technologies in the second quarter valued at $437,000. Bank of New York Mellon Corp purchased a new stake in PureCycle Technologies during the 2nd quarter worth about $3,290,000. SWS Partners purchased a new stake in PureCycle Technologies during the 2nd quarter worth about $11,637,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in PureCycle Technologies in the 2nd quarter valued at about $184,000. Finally, Allied Private Wealth LLC acquired a new position in PureCycle Technologies in the 2nd quarter valued at about $864,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Wall Street Zen lowered shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. TD Cowen decreased their target price on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, Northland Securities set a $13.00 target price on shares of PureCycle Technologies in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PureCycle Technologies has a consensus rating of “Moderate Buy” and an average price target of $11.75.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $7.22 on Tuesday. The stock has a fifty day moving average price of $7.41 and a 200 day moving average price of $7.99. PureCycle Technologies, Inc. has a 52 week low of $4.93 and a 52 week high of $15.49. The firm has a market capitalization of $1.45 billion, a P/E ratio of -4.95 and a beta of 2.57. The company has a current ratio of 2.60, a quick ratio of 2.42 and a debt-to-equity ratio of 27.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). The business had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. PureCycle Technologies had a negative return on equity of 612.39% and a negative net margin of 1,618.84%. Equities research analysts anticipate that PureCycle Technologies, Inc. will post -0.9 earnings per share for the current year.

PureCycle Technologies Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.