UBS Group AG grew its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT – Free Report) by 43.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,164,573 shares of the company’s stock after purchasing an additional 351,630 shares during the period. UBS Group AG owned 0.65% of PureCycle Technologies worth $10,004,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. First National Advisers LLC boosted its position in shares of PureCycle Technologies by 0.4% in the third quarter. First National Advisers LLC now owns 212,791 shares of the company’s stock worth $2,799,000 after acquiring an additional 932 shares during the last quarter. Focused Wealth Management Inc boosted its position in shares of PureCycle Technologies by 7.1% in the fourth quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock worth $129,000 after acquiring an additional 1,000 shares during the last quarter. Cherry Creek Investment Advisors Inc. boosted its position in shares of PureCycle Technologies by 6.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 24,787 shares of the company’s stock worth $326,000 after acquiring an additional 1,395 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of PureCycle Technologies by 4.3% in the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in shares of PureCycle Technologies by 5.0% in the third quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock worth $432,000 after acquiring an additional 1,574 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PCT has been the topic of several research analyst reports. Wall Street Zen cut 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 (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. TD Cowen reduced their price target 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, Cantor Fitzgerald reduced their price target on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.
PureCycle Technologies Trading Up 1.6%
Shares of PCT stock opened at $12.59 on Friday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -8.56 and a beta of 2.31. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 47.59. PureCycle Technologies, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $17.37. The firm’s 50 day moving average price is $6.75 and its two-hundred day moving average price is $8.50.
PureCycle Technologies (NASDAQ:PCT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. On average, analysts anticipate that PureCycle Technologies, Inc. will post -0.99 EPS for the current year.
About PureCycle Technologies
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.
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