HighTower Advisors LLC Grows Stock Position in PureCycle Technologies, Inc. $PCT

HighTower Advisors LLC lifted its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 23.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 473,039 shares of the company’s stock after purchasing an additional 89,766 shares during the period. HighTower Advisors LLC owned about 0.26% of PureCycle Technologies worth $4,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCT. Royal Bank of Canada boosted its holdings in PureCycle Technologies by 62.4% in the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after purchasing an additional 400,520 shares during the period. AQR Capital Management LLC lifted its holdings in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after buying an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after buying an additional 1,516 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PureCycle Technologies by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock worth $507,000 after buying an additional 3,161 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in PureCycle Technologies during the 1st quarter worth about $3,770,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCT. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Cantor Fitzgerald decreased their price target on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, TD Cowen decreased their price target on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $12.39 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. The business’s 50 day moving average is $8.02 and its two-hundred day moving average is $8.56. PureCycle Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $17.37. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -8.43 and a beta of 2.31.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%.The company had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. Research analysts expect 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.