Northern Trust Corp Raises Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Northern Trust Corp increased its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,240,393 shares of the company’s stock after purchasing an additional 86,233 shares during the quarter. Northern Trust Corp owned 0.71% of PureCycle Technologies worth $12,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in PureCycle Technologies by 22.6% in the 4th quarter. SG Americas Securities LLC now owns 54,774 shares of the company’s stock worth $561,000 after acquiring an additional 10,094 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in PureCycle Technologies in the 4th quarter worth $193,000. Flagship Private Wealth LLC grew its holdings in PureCycle Technologies by 16.0% in the 4th quarter. Flagship Private Wealth LLC now owns 29,781 shares of the company’s stock worth $305,000 after acquiring an additional 4,100 shares during the last quarter. Drive Wealth Management LLC grew its holdings in PureCycle Technologies by 767.7% in the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after acquiring an additional 272,527 shares during the last quarter. Finally, Deane Retirement Strategies Inc. bought a new stake in PureCycle Technologies in the 4th quarter worth $695,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $9.29 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74. The firm has a fifty day moving average price of $6.99 and a 200 day moving average price of $9.42. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -6.19 and a beta of 1.68.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. As a group, sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their price objective on shares of PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th.

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.