Principal Financial Group Inc. Makes New $890,000 Investment in PureCycle Technologies, Inc. $PCT

Principal Financial Group Inc. purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,715 shares of the company’s stock, valued at approximately $890,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in PureCycle Technologies by 278.1% during the 2nd 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. Bluefin Capital Management LLC bought a new position in PureCycle Technologies during the second quarter worth about $137,000. Evelyn Partners Investment Management Services Ltd grew its holdings in PureCycle Technologies by 225.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 11,198 shares of the company’s stock valued at $143,000 after purchasing an additional 7,758 shares during the period. AQR Capital Management LLC boosted its position in shares of PureCycle Technologies by 67.9% during the first quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after purchasing an additional 8,478 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of PureCycle Technologies by 16.5% in the 2nd 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. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

PureCycle Technologies stock opened at $8.90 on Thursday. 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 company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -6.10 and a beta of 2.05. The stock’s 50 day moving average is $9.67 and its 200-day moving average is $11.26. PureCycle Technologies, Inc. has a 12 month low of $5.40 and a 12 month high of $17.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen reaffirmed a “hold” rating and set a $9.00 price target (down previously from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

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.