PureCycle Technologies, Inc. (NASDAQ:PCT) Stock Holdings Lifted by Deutsche Bank AG

Deutsche Bank AG grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,525 shares of the company’s stock after purchasing an additional 29,782 shares during the period. Deutsche Bank AG owned about 0.06% of PureCycle Technologies worth $1,143,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

PureCycle Technologies Stock Up 2.2%

PCT stock opened at $9.35 on Monday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -6.23 and a beta of 1.68. The company has a 50-day moving average of $7.12 and a two-hundred day moving average of $9.23. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week 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.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $4.27 million. As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

PureCycle Technologies 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.