PureCycle Technologies, Inc. $PCT Shares Purchased by Fortis Group Advisors LLC

Fortis Group Advisors LLC raised its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 85.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 238,107 shares of the company’s stock after buying an additional 109,429 shares during the quarter. Fortis Group Advisors LLC’s holdings in PureCycle Technologies were worth $2,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Appian Way Asset Management LP lifted its stake in shares of PureCycle Technologies by 1.4% in the 3rd quarter. Appian Way Asset Management LP now owns 4,315,655 shares of the company’s stock valued at $56,751,000 after purchasing an additional 59,676 shares in the last quarter. UBS Group AG lifted its stake in shares of PureCycle Technologies by 43.3% in the 4th quarter. UBS Group AG now owns 1,164,573 shares of the company’s stock valued at $10,004,000 after purchasing an additional 351,630 shares in the last quarter. Royal Bank of Canada lifted its stake 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 purchasing an additional 400,520 shares in the last quarter. SWS Partners lifted its stake in shares of PureCycle Technologies by 31.9% in the 4th quarter. SWS Partners now owns 988,463 shares of the company’s stock valued at $8,491,000 after purchasing an additional 238,947 shares in the last quarter. Finally, Indivisible Partners acquired a new position in shares of PureCycle Technologies in the 4th quarter valued at about $5,803,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PCT. TD Cowen reduced their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Cantor Fitzgerald dropped their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PureCycle Technologies has an average rating of “Moderate Buy” and an average price target of $12.00.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $11.86 on Thursday. The company has a market cap of $2.15 billion, a P/E ratio of -8.07 and a beta of 2.31. The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71. PureCycle Technologies, Inc. has a one year low of $4.93 and a one year high of $17.37. The business’s 50-day simple moving average is $7.13 and its 200 day simple moving average is $8.47.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. On average, sell-side analysts forecast that PureCycle Technologies, Inc. will post -0.99 earnings per share for the current fiscal year.

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.