Bank of Montreal Can Makes New $3.44 Million Investment in PureCycle Technologies, Inc. (NYSE:PCT)

Bank of Montreal Can acquired a new position in shares of PureCycle Technologies, Inc. (NYSE:PCT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 321,283 shares of the company’s stock, valued at approximately $3,438,000. Bank of Montreal Can owned approximately 0.20% of PureCycle Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased its holdings in PureCycle Technologies by 113,962.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,370,710 shares of the company’s stock worth $306,706,000 after purchasing an additional 45,330,933 shares in the last quarter. Abundance Wealth Counselors boosted its stake in shares of PureCycle Technologies by 34.6% in the 1st quarter. Abundance Wealth Counselors now owns 7,742,629 shares of the company’s stock worth $54,198,000 after buying an additional 1,990,966 shares during the last quarter. BlackRock Inc. boosted its stake in shares of PureCycle Technologies by 1.8% in the 1st quarter. BlackRock Inc. now owns 7,253,019 shares of the company’s stock worth $50,771,000 after buying an additional 126,438 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of PureCycle Technologies by 57.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 2,873,531 shares of the company’s stock worth $20,115,000 after buying an additional 1,047,268 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of PureCycle Technologies by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 2,376,234 shares of the company’s stock worth $16,634,000 after buying an additional 95,258 shares during the last quarter. 62.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCT has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $15.00 target price on shares of PureCycle Technologies in a research note on Thursday, September 14th. Roth Mkm restated a “buy” rating and issued a $12.50 target price on shares of PureCycle Technologies in a research note on Thursday, September 14th. Finally, Oppenheimer upped their price objective on PureCycle Technologies from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th.

PureCycle Technologies Price Performance

PureCycle Technologies stock opened at $4.99 on Monday. PureCycle Technologies, Inc. has a 12 month low of $3.94 and a 12 month high of $11.89. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $6.14 and its 200 day simple moving average is $7.90. The company has a market cap of $818.32 million, a price-to-earnings ratio of -6.48 and a beta of 1.53.

PureCycle Technologies (NYSE:PCT) last posted its earnings results on Tuesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Sell-side analysts forecast that PureCycle Technologies, Inc. will post -0.79 EPS for the current year.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.