Aperture Investors LLC Invests $1.02 Million in PureCycle Technologies, Inc. $PCT

Aperture Investors LLC acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,619 shares of the company’s stock, valued at approximately $1,022,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted 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 in the last quarter. AlphaQuest LLC raised its holdings in PureCycle Technologies by 1,892.9% during the first quarter. AlphaQuest LLC now owns 17,717 shares of the company’s stock worth $123,000 after purchasing an additional 16,828 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of PureCycle Technologies during the 2nd quarter worth approximately $140,000. Evelyn Partners Investment Management Services Ltd lifted its position in shares of PureCycle Technologies by 225.5% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 11,198 shares of the company’s stock worth $143,000 after buying an additional 7,758 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of PureCycle Technologies by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock valued at $145,000 after buying an additional 8,478 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $9.19 on Wednesday. PureCycle Technologies, Inc. has a one year low of $5.40 and a one year high of $17.37. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -6.29 and a beta of 2.11. The company has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $12.51. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24.

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