Grand Central Investment Group Purchases New Holdings in PureCycle Technologies, Inc. $PCT

Grand Central Investment Group acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 212,938 shares of the company’s stock, valued at approximately $1,105,000. PureCycle Technologies comprises about 0.8% of Grand Central Investment Group’s holdings, making the stock its 28th largest holding. Grand Central Investment Group owned about 0.12% of PureCycle Technologies at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after acquiring an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of PureCycle Technologies during the third quarter worth approximately $35,000. SHP Wealth Management purchased a new stake in shares of PureCycle Technologies during the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC raised its stake in PureCycle Technologies by 3,047.8% in the 4th quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock valued at $79,000 after purchasing an additional 8,869 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new position in PureCycle Technologies in the 4th quarter valued at $87,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Price Performance

PCT stock opened at $7.62 on Tuesday. The business has a fifty day moving average of $9.76 and a two-hundred day moving average of $8.70. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 47.59. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -5.18 and a beta of 2.48. PureCycle Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. As a group, research analysts anticipate that PureCycle Technologies, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

PCT has been the topic of several recent research reports. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a research note on Tuesday, June 16th. TD Cowen reduced their target price on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th. Finally, Wall Street Zen cut shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.25.

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.