Cetera Investment Advisers Buys 11,261 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

Cetera Investment Advisers increased its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,988 shares of the company’s stock after buying an additional 11,261 shares during the quarter. Cetera Investment Advisers’ holdings in PureCycle Technologies were worth $625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of PureCycle Technologies by 0.4% in the 4th quarter. NewEdge Advisors LLC now owns 322,491 shares of the company’s stock valued at $3,306,000 after buying an additional 1,330 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in PureCycle Technologies by 11.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,897 shares of the company’s stock valued at $132,000 after acquiring an additional 1,352 shares during the period. US Bancorp DE lifted its stake in 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 during the period. Arizona State Retirement System boosted its holdings in PureCycle Technologies by 6.1% during the fourth 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 in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of PureCycle Technologies by 13.8% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 18,390 shares of the company’s stock valued at $188,000 after purchasing an additional 2,230 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

PureCycle Technologies Stock Up 2.2%

PCT opened at $9.35 on Tuesday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -6.23 and a beta of 1.68. 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’s 50-day simple moving average is $7.14 and its 200-day simple moving average is $9.21. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data 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 firm had revenue of $1.58 million for the quarter, compared to the consensus estimate of $4.27 million. Equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.