PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 113,708 shares of the company’s stock after buying an additional 4,170 shares during the period. California State Teachers Retirement System owned about 0.06% of PureCycle Technologies worth $1,166,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp increased its stake in PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock worth $32,000 after buying an additional 2,291 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after purchasing an additional 2,861 shares in the last quarter. US Bancorp DE grew its position in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after purchasing an additional 2,019 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at approximately $80,000. Finally, Cibc World Markets Corp purchased a new position in PureCycle Technologies in the fourth quarter worth approximately $118,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $10.82 on Tuesday. The business’s fifty day moving average price is $7.64 and its 200 day moving average price is $9.08. The firm has a market capitalization of $1.94 billion, a PE ratio of -7.21 and a beta of 1.80. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $1.58 million during the quarter, compared to the consensus estimate of $4.27 million. On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TD Cowen decreased 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 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.