Bosun Asset Management LLC Makes New $1.02 Million Investment in PureCycle Technologies, Inc. $PCT

Bosun Asset Management LLC purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 74,740 shares of the company’s stock, valued at approximately $1,024,000.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in PureCycle Technologies by 278.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock valued at $35,000 after purchasing an additional 1,891 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in PureCycle Technologies during the 2nd quarter worth about $140,000. Evelyn Partners Investment Management Services Ltd grew its position in shares of PureCycle Technologies by 225.5% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 11,198 shares of the company’s stock valued at $143,000 after buying an additional 7,758 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of PureCycle Technologies by 16.5% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 12,272 shares of the company’s stock valued at $168,000 after buying an additional 1,736 shares during the period. Finally, Stephens Inc. AR bought a new position in shares of PureCycle Technologies during the second quarter worth about $179,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PCT. TD Cowen reiterated a “hold” rating and issued a $9.00 target price (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Seaport Res Ptn raised shares of PureCycle Technologies to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Wednesday, October 8th. Northland Securities started coverage on shares of PureCycle Technologies in a report on Wednesday, August 27th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.67.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $9.29 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.24 and a debt-to-equity ratio of 5.21. PureCycle Technologies, Inc. has a twelve month low of $5.40 and a twelve month high of $17.37. The company has a fifty day moving average of $11.30 and a 200-day moving average of $12.48. The firm has a market capitalization of $1.67 billion, a P/E ratio of -6.36 and a beta of 2.11.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The business had revenue of $2.43 million for the quarter, compared to analyst estimates of $6.04 million. As a group, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS 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.