SG Americas Securities LLC Acquires 69,653 Shares of PureCycle Technologies, Inc. $PCT

SG Americas Securities LLC increased its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 884.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,532 shares of the company’s stock after purchasing an additional 69,653 shares during the quarter. SG Americas Securities LLC’s holdings in PureCycle Technologies were worth $1,020,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. WMG Financial Advisors LLC increased its holdings in shares of PureCycle Technologies by 19.3% in the third quarter. WMG Financial Advisors LLC now owns 46,400 shares of the company’s stock valued at $610,000 after purchasing an additional 7,500 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in PureCycle Technologies by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 3,243,160 shares of the company’s stock worth $42,648,000 after buying an additional 44,817 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in PureCycle Technologies by 56.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 35,700 shares of the company’s stock worth $469,000 after acquiring an additional 12,900 shares in the last quarter. Simplify Asset Management Inc. boosted its holdings in PureCycle Technologies by 13.8% in the third quarter. Simplify Asset Management Inc. now owns 590,609 shares of the company’s stock worth $7,767,000 after acquiring an additional 71,592 shares in the last quarter. Finally, Apella Capital LLC lifted its position in PureCycle Technologies by 3.7% in the 3rd quarter. Apella Capital LLC now owns 58,198 shares of the company’s stock valued at $822,000 after acquiring an additional 2,083 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen reiterated 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Finally, Seaport Res Ptn upgraded PureCycle Technologies to a “strong-buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $11.76 on Monday. PureCycle Technologies, Inc. has a fifty-two week low of $5.40 and a fifty-two week high of $17.37. The business’s 50 day moving average price is $9.14 and its 200-day moving average price is $12.03. The company has a market cap of $2.12 billion, a P/E ratio of -8.05 and a beta of 2.03. 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 earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $6.04 million. Sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies 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.