Copia Wealth Management Purchases 5,898 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Copia Wealth Management grew its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 11.8% in the 1st quarter, HoldingsChannel reports. The firm owned 56,064 shares of the company’s stock after acquiring an additional 5,898 shares during the quarter. Copia Wealth Management’s holdings in PureCycle Technologies were worth $388,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of PureCycle Technologies by 36.4% in the fourth quarter. Deutsche Bank AG now owns 111,525 shares of the company’s stock worth $1,143,000 after buying an additional 29,782 shares during the period. Highview Capital Management LLC DE purchased a new position in shares of PureCycle Technologies in the fourth quarter worth about $324,000. Cetera Investment Advisers increased its holdings in PureCycle Technologies by 22.6% during the 4th quarter. Cetera Investment Advisers now owns 60,988 shares of the company’s stock valued at $625,000 after purchasing an additional 11,261 shares during the period. Vanguard Group Inc. increased its holdings in PureCycle Technologies by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock valued at $144,530,000 after purchasing an additional 758,382 shares during the period. Finally, California State Teachers Retirement System increased its holdings in PureCycle Technologies by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 113,708 shares of the company’s stock valued at $1,166,000 after purchasing an additional 4,170 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PCT opened at $11.87 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $8.18 and its 200-day moving average price is $9.02. PureCycle Technologies, Inc. has a 52 week low of $4.50 and a 52 week high of $15.58. The stock has a market cap of $2.13 billion, a P/E ratio of -7.91 and a beta of 1.80.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $4.27 million. Equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PCT shares. TD Cowen reduced their price target on PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded PureCycle Technologies from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

PureCycle Technologies Profile

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.