PureCycle Technologies, Inc. $PCT Shares Bought by Ethos Financial Group LLC

Ethos Financial Group LLC grew its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 556,773 shares of the company’s stock after purchasing an additional 164,185 shares during the quarter. Ethos Financial Group LLC owned about 0.31% of PureCycle Technologies worth $4,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in shares of PureCycle Technologies by 6,571.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after purchasing an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in PureCycle Technologies in the third quarter valued at about $35,000. Bluefin Capital Management LLC acquired a new stake in PureCycle Technologies in the second quarter worth about $137,000. Stratos Wealth Partners LTD. acquired a new stake in PureCycle Technologies in the fourth quarter worth about $88,000. Finally, Scotia Capital Inc. purchased a new stake in shares of PureCycle Technologies during the third quarter worth about $141,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

PCT opened at $5.42 on Friday. The firm has a market capitalization of $979.56 million, a price-to-earnings ratio of -4.48 and a beta of 2.10. The company’s 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $9.69. PureCycle Technologies, Inc. has a 1-year low of $4.93 and a 1-year high of $17.37. The company has a debt-to-equity ratio of 7.62, a current ratio of 2.26 and a quick ratio of 2.15.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The firm had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $6.37 million. PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. Analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCT. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. Cantor Fitzgerald reduced their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

About PureCycle Technologies

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.