Nuveen LLC Buys Shares of 333,197 PureCycle Technologies, Inc. $PCT

Nuveen LLC acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 333,197 shares of the company’s stock, valued at approximately $2,306,000. Nuveen LLC owned approximately 0.19% of PureCycle Technologies at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in PureCycle Technologies during the first quarter worth $25,000. CWM LLC raised its position in shares of PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company’s stock worth $34,000 after acquiring an additional 3,043 shares in the last quarter. KBC Group NV purchased a new stake in shares of PureCycle Technologies during the 1st quarter worth $41,000. Kathmere Capital Management LLC bought a new stake in PureCycle Technologies during the first quarter valued at about $69,000. Finally, LJI Wealth Management LLC purchased a new position in PureCycle Technologies in the first quarter valued at about $86,000. 63.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 target price on shares of PureCycle Technologies in a research note on Friday, August 8th. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a research note on Tuesday. TD Cowen upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Northland Securities assumed coverage on shares of PureCycle Technologies in a research note on Wednesday. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Cowen restated a “buy” rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.00.

PureCycle Technologies Stock Down 2.3%

PureCycle Technologies stock opened at $14.29 on Friday. 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 stock has a market capitalization of $2.57 billion, a PE ratio of -8.46 and a beta of 1.94. The business has a 50 day simple moving average of $14.06 and a 200-day simple moving average of $10.37. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $4.10 million. On average, analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal 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.