Voya Investment Management LLC Trims Position in PureCycle Technologies, Inc. $PCT

Voya Investment Management LLC trimmed its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 88.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,687 shares of the company’s stock after selling 182,377 shares during the period. Voya Investment Management LLC’s holdings in PureCycle Technologies were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in PureCycle Technologies by 100.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,383,478 shares of the company’s stock worth $18,954,000 after purchasing an additional 691,809 shares in the last quarter. Sylebra Capital LLC lifted its holdings in shares of PureCycle Technologies by 1.9% in the 1st quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company’s stock worth $235,817,000 after buying an additional 619,925 shares during the period. Millennium Management LLC bought a new position in shares of PureCycle Technologies during the 1st quarter worth $3,770,000. Royal Bank of Canada increased its stake in shares of PureCycle Technologies by 62.4% during the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after buying an additional 400,520 shares during the period. Finally, Anthracite Investment Company Inc. bought a new stake in shares of PureCycle Technologies in the second quarter valued at about $2,932,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PCT shares. Seaport Res Ptn upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th. Finally, TD Cowen reissued a “hold” rating and issued a $9.00 price objective (down previously from $16.00) on shares of PureCycle Technologies in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.67.

PureCycle Technologies Trading Up 4.2%

NASDAQ PCT opened at $8.95 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.24 and a debt-to-equity ratio of 5.21. The firm has a market cap of $1.61 billion, a PE ratio of -6.13 and a beta of 2.03. The company has a 50 day moving average price of $9.33 and a 200 day moving average price of $12.26. PureCycle Technologies, Inc. has a 52 week low of $5.40 and a 52 week high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last announced its 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 business had revenue of $2.43 million for the quarter, compared to the consensus estimate of $6.04 million. As a group, sell-side analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.