LJI Wealth Management LLC Purchases 2,000 Shares of PureCycle Technologies, Inc. $PCT

LJI Wealth Management LLC boosted its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,500 shares of the company’s stock after purchasing an additional 2,000 shares during the period. LJI Wealth Management LLC’s holdings in PureCycle Technologies were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCT. KBC Group NV bought a new position in PureCycle Technologies during the first quarter valued at approximately $41,000. Koshinski Asset Management Inc. bought a new position in PureCycle Technologies during the first quarter valued at approximately $89,000. Teacher Retirement System of Texas bought a new position in PureCycle Technologies during the first quarter valued at approximately $131,000. Huntleigh Advisors Inc. bought a new position in PureCycle Technologies during the first quarter valued at approximately $4,844,000. Finally, Envestnet Asset Management Inc. lifted its position in PureCycle Technologies by 123.4% during the first quarter. Envestnet Asset Management Inc. now owns 68,759 shares of the company’s stock valued at $476,000 after purchasing an additional 37,985 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PCT. Seaport Res Ptn raised shares of PureCycle Technologies to a “strong-buy” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Northland Capmk raised shares of PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PureCycle Technologies 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 $13.14 on Friday. The firm has a fifty day moving average price of $13.56 and a 200-day moving average price of $11.79. The company has a debt-to-equity ratio of 3.54, a current ratio of 2.14 and a quick ratio of 2.07. The stock has a market cap of $2.37 billion, a PE ratio of -7.78 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 posted its earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $4.10 million. Equities analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

About PureCycle Technologies

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.