22,800 Shares in PureCycle Technologies, Inc. $PCT Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,800 shares of the company’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duquesne Family Office LLC lifted its position in PureCycle Technologies by 111.3% during the 1st quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company’s stock worth $23,285,000 after buying an additional 1,772,342 shares in the last quarter. SWS Partners lifted its position in PureCycle Technologies by 2.8% during the 1st quarter. SWS Partners now owns 757,279 shares of the company’s stock worth $5,240,000 after buying an additional 20,547 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its position in PureCycle Technologies by 218.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 70,000 shares of the company’s stock worth $959,000 after buying an additional 48,000 shares in the last quarter. Huntleigh Advisors Inc. bought a new stake in PureCycle Technologies during the 1st quarter worth about $4,844,000. Finally, Nuveen LLC bought a new stake in PureCycle Technologies during the 1st quarter worth about $2,306,000. 63.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PCT shares. Northland Capmk raised shares of PureCycle Technologies to a “strong-buy” rating in a research report on Tuesday, August 26th. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Saturday. Wall Street Zen lowered shares of PureCycle Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Northland Securities assumed coverage on shares of PureCycle Technologies in a research note on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Cowen restated a “buy” rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.00.

PureCycle Technologies Stock Down 0.3%

Shares of PCT opened at $13.10 on Friday. PureCycle Technologies, Inc. has a 52 week low of $5.40 and a 52 week high of $17.37. The firm has a market cap of $2.36 billion, a P/E ratio of -7.75 and a beta of 2.01. The firm’s 50-day simple moving average is $13.56 and its 200 day simple moving average is $11.88. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14.

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