First National Bank of Omaha Buys New Shares in PureCycle Technologies, Inc. $PCT

First National Bank of Omaha purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 204,123 shares of the company’s stock, valued at approximately $2,684,000. First National Bank of Omaha owned about 0.11% of PureCycle Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of PureCycle Technologies by 100.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,383,478 shares of the company’s stock valued at $18,954,000 after buying an additional 691,809 shares in the last quarter. Millennium Management LLC acquired a new stake in PureCycle Technologies in the first quarter valued at $3,770,000. Royal Bank of Canada grew its position in shares of PureCycle Technologies by 62.4% in the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after acquiring an additional 400,520 shares during the period. Federated Hermes Inc. increased its stake in shares of PureCycle Technologies by 1,047.8% during the 3rd quarter. Federated Hermes Inc. now owns 258,502 shares of the company’s stock worth $3,399,000 after purchasing an additional 235,981 shares during the last quarter. Finally, Anthracite Investment Company Inc. bought a new stake in shares of PureCycle Technologies in the 2nd quarter valued at about $2,932,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

PCT has been the subject of a number of research analyst reports. TD Cowen reiterated a “hold” rating and set a $9.00 price target (down previously from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $8.90 on Thursday. PureCycle Technologies, Inc. has a 52 week low of $5.40 and a 52 week high of $17.37. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -6.10 and a beta of 2.05. The company has a 50-day simple moving average of $9.67 and a 200 day simple moving average of $11.26. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24.

PureCycle Technologies Company 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.