Ethos Financial Group LLC Increases Stake in PureCycle Technologies, Inc. $PCT

Ethos Financial Group LLC grew its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 27.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 711,913 shares of the company’s stock after purchasing an additional 155,140 shares during the quarter. Ethos Financial Group LLC owned approximately 0.39% of PureCycle Technologies worth $3,602,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PCT. Royal Bank of Canada lifted its stake in shares of PureCycle Technologies by 62.4% during the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock worth $7,213,000 after purchasing an additional 400,520 shares during the last quarter. AQR Capital Management LLC grew its stake in PureCycle Technologies by 67.9% in the first quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock valued at $145,000 after purchasing an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in PureCycle Technologies by 4.3% in the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after purchasing an additional 1,516 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PureCycle Technologies by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock worth $507,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of PureCycle Technologies during the first quarter valued at about $3,770,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

NASDAQ:PCT opened at $6.76 on Wednesday. PureCycle Technologies, Inc. has a one year low of $4.93 and a one year high of $17.37. The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -4.60 and a beta of 2.50. The firm’s fifty day moving average is $9.81 and its two-hundred day moving average is $8.60.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. The business had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. Research analysts expect that PureCycle Technologies, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCT shares. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Northland Securities set a $13.00 price objective on PureCycle Technologies in a report on Friday, June 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Finally, TD Cowen lowered their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PureCycle Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

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.