Cetera Investment Advisers Has $1.50 Million Holdings in PureCycle Technologies, Inc. $PCT

Cetera Investment Advisers boosted its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 75.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,329 shares of the company’s stock after acquiring an additional 46,992 shares during the period. Cetera Investment Advisers owned 0.06% of PureCycle Technologies worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of PureCycle Technologies by 278.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock worth $35,000 after buying an additional 1,891 shares in the last quarter. CWM LLC boosted its stake in shares of PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after purchasing an additional 3,043 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of PureCycle Technologies during the second quarter worth $140,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in PureCycle Technologies by 16.5% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 12,272 shares of the company’s stock worth $168,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in shares of PureCycle Technologies in the second quarter valued at approximately $179,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCT has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price target on shares of PureCycle Technologies in a research note on Friday, August 8th. Northland Securities assumed coverage on PureCycle Technologies in a report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective for the company. Northland Capmk upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Cowen reissued a “buy” rating on shares of PureCycle Technologies in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.67.

PureCycle Technologies Stock Performance

Shares of PCT stock opened at $8.34 on Tuesday. PureCycle Technologies, Inc. has a 12 month low of $5.40 and a 12 month high of $17.37. The firm’s 50 day moving average is $11.64 and its 200 day moving average is $12.50. The company has a current ratio of 2.24, a quick ratio of 2.15 and a debt-to-equity ratio of 5.21. The stock has a market capitalization of $1.50 billion, a P/E ratio of -5.71 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $6.04 million. On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies Company 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.