Charles Schwab Investment Management Inc. Purchases 5,643 Shares of PureCycle Technologies, Inc. $PCT

Charles Schwab Investment Management Inc. increased its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 0.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,142,943 shares of the company’s stock after buying an additional 5,643 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of PureCycle Technologies worth $7,909,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in PureCycle Technologies by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company’s stock worth $102,149,000 after buying an additional 660,837 shares during the period. Duquesne Family Office LLC bought a new position in shares of PureCycle Technologies during the 4th quarter valued at about $16,323,000. T. Rowe Price Investment Management Inc. bought a new position in shares of PureCycle Technologies during the 4th quarter valued at about $13,859,000. Northern Trust Corp boosted its holdings in shares of PureCycle Technologies by 7.5% during the 4th quarter. Northern Trust Corp now owns 1,240,393 shares of the company’s stock valued at $12,714,000 after purchasing an additional 86,233 shares during the last quarter. Finally, Huntleigh Advisors Inc. bought a new position in shares of PureCycle Technologies during the 1st quarter valued at about $4,844,000. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 2.3%

Shares of NASDAQ PCT opened at $12.72 on Tuesday. The company has a debt-to-equity ratio of 3.54, a current ratio of 2.14 and a quick ratio of 2.07. The company has a market cap of $2.29 billion, a P/E ratio of -7.53 and a beta of 1.94. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $17.37. The firm has a 50-day simple moving average of $14.01 and a two-hundred day simple moving average of $10.23.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $1.65 million for the quarter, compared to analyst estimates of $4.10 million. Research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

PCT has been the subject of several research reports. Cowen reissued a “buy” rating on shares of PureCycle Technologies in a report on Friday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 target price on shares of PureCycle Technologies in a research report on Friday, August 8th. Wall Street Zen cut shares of PureCycle Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Finally, TD Cowen upgraded shares of PureCycle Technologies to a “strong-buy” rating in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, PureCycle Technologies currently has an average rating of “Buy” and an average target price of $14.67.

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.