SWS Partners Invests $11.64 Million in PureCycle Technologies, Inc. $PCT

SWS Partners bought a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) in the 2nd quarter, Holdings Channel.com reports. The firm bought 1,434,924 shares of the company’s stock, valued at approximately $11,637,000. PureCycle Technologies comprises approximately 2.5% of SWS Partners’ holdings, making the stock its 7th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new stake in PureCycle Technologies during the first quarter worth about $33,000. Larson Financial Group LLC increased its position in shares of PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of PureCycle Technologies during the 3rd quarter valued at about $35,000. SHP Wealth Management purchased a new position in shares of PureCycle Technologies during the 4th quarter valued at about $43,000. Finally, Sigma Planning Corp bought a new stake in PureCycle Technologies in the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

Shares of PCT stock opened at $6.95 on Friday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -4.76 and a beta of 2.57. The business’s fifty day moving average is $7.50 and its 200 day moving average is $8.04. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $15.49. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.51). The firm had revenue of $4.51 million for the quarter, compared to analysts’ expectations of $6.11 million. PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. Research analysts expect that PureCycle Technologies, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.