D. E. Shaw & Co. Inc. Decreases Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

D. E. Shaw & Co. Inc. trimmed its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 52.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,989 shares of the company’s stock after selling 101,885 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.05% of PureCycle Technologies worth $953,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highview Capital Management LLC DE purchased a new position in shares of PureCycle Technologies in the 4th quarter valued at $324,000. Vanguard Group Inc. grew its holdings in shares of PureCycle Technologies by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 14,100,507 shares of the company’s stock worth $144,530,000 after purchasing an additional 758,382 shares during the last quarter. Drive Wealth Management LLC grew its holdings in shares of PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after purchasing an additional 272,527 shares during the last quarter. US Bancorp DE increased its position in shares of PureCycle Technologies by 141.5% during the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of PureCycle Technologies by 6.1% in the 4th quarter. Arizona State Retirement System now owns 35,217 shares of the company’s stock valued at $361,000 after purchasing an additional 2,033 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Up 2.2%

Shares of NASDAQ:PCT opened at $9.35 on Friday. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The stock has a market cap of $1.68 billion, a P/E ratio of -6.23 and a beta of 1.68. The firm has a fifty day moving average price of $7.12 and a 200 day moving average price of $9.28.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. Sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.