PureCycle Technologies, Inc. $PCT Shares Purchased by Maridea Wealth Management LLC

Maridea Wealth Management LLC raised its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 78.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,150 shares of the company’s stock after buying an additional 116,178 shares during the quarter. PureCycle Technologies comprises 0.9% of Maridea Wealth Management LLC’s portfolio, making the stock its 26th largest position. Maridea Wealth Management LLC’s holdings in PureCycle Technologies were worth $3,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of PureCycle Technologies during the 4th quarter worth approximately $192,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PureCycle Technologies by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,088 shares of the company’s stock worth $718,000 after purchasing an additional 2,360 shares during the period. ProShare Advisors LLC raised its position in shares of PureCycle Technologies by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 34,719 shares of the company’s stock worth $356,000 after purchasing an additional 11,424 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PureCycle Technologies by 27.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 261,251 shares of the company’s stock worth $2,678,000 after purchasing an additional 56,339 shares during the period. Finally, Integrated Advisors Network LLC acquired a new stake in shares of PureCycle Technologies during the 4th quarter worth approximately $119,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

PCT has been the topic of a number of research reports. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a research report on Tuesday, August 26th. TD Cowen raised PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Cowen reissued a “buy” rating on shares of PureCycle Technologies in a report on Friday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 price objective on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Northland Securities initiated coverage on PureCycle Technologies in a report on Wednesday, August 27th. They issued an “outperform” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.00.

PureCycle Technologies Stock Performance

Shares of NASDAQ PCT opened at $13.49 on Thursday. The stock has a fifty day moving average price of $13.77 and a two-hundred day moving average price of $10.87. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. The firm has a market cap of $2.43 billion, a P/E ratio of -7.98 and a beta of 2.01. PureCycle Technologies, Inc. has a 1 year low of $5.40 and a 1 year high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $4.10 million. Research analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

PureCycle Technologies Company 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.