JT Stratford LLC Cuts Stock Position in PureCycle Technologies, Inc. $PCT

JT Stratford LLC decreased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 74.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,752 shares of the company’s stock after selling 84,365 shares during the period. JT Stratford LLC’s holdings in PureCycle Technologies were worth $378,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Lake Hills Wealth Management LLC raised its position in PureCycle Technologies by 1.3% in the third quarter. Lake Hills Wealth Management LLC now owns 67,148 shares of the company’s stock valued at $883,000 after purchasing an additional 878 shares during the period. First National Advisers LLC grew its stake in shares of PureCycle Technologies by 0.4% in the third quarter. First National Advisers LLC now owns 212,791 shares of the company’s stock valued at $2,799,000 after buying an additional 932 shares in the last quarter. Fourpath Capital Management LLC grew its stake in shares of PureCycle Technologies by 5.3% in the third quarter. Fourpath Capital Management LLC now owns 26,456 shares of the company’s stock valued at $348,000 after buying an additional 1,325 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in shares of PureCycle Technologies by 6.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 24,787 shares of the company’s stock valued at $326,000 after buying an additional 1,395 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in PureCycle Technologies by 7.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 20,348 shares of the company’s stock worth $279,000 after acquiring an additional 1,400 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Cantor Fitzgerald decreased their target price on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, TD Cowen reaffirmed a “hold” rating and set a $9.00 price target (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

PureCycle Technologies Price Performance

PCT stock opened at $6.00 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.26 and a debt-to-equity ratio of 7.62. PureCycle Technologies, Inc. has a 52-week low of $5.40 and a 52-week high of $17.37. The stock’s 50 day moving average is $9.42 and its two-hundred day moving average is $10.85. The company has a market capitalization of $1.08 billion, a PE ratio of -4.96 and a beta of 2.07.

PureCycle Technologies (NASDAQ:PCT) last released its 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). PureCycle Technologies had a negative net margin of 2,185.10% and a negative return on equity of 204.74%. The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $6.37 million. Analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

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.