SWS Partners Boosts Stake in PureCycle Technologies, Inc. $PCT

SWS Partners increased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 31.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 988,463 shares of the company’s stock after buying an additional 238,947 shares during the period. PureCycle Technologies comprises approximately 1.6% of SWS Partners’ holdings, making the stock its 15th biggest position. SWS Partners’ holdings in PureCycle Technologies were worth $8,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Appian Way Asset Management LP raised its holdings in PureCycle Technologies by 1.4% in the 3rd quarter. Appian Way Asset Management LP now owns 4,315,655 shares of the company’s stock worth $56,751,000 after purchasing an additional 59,676 shares during the period. Gladstone Institutional Advisory LLC grew its holdings in PureCycle Technologies by 1.4% in the third quarter. Gladstone Institutional Advisory LLC now owns 3,243,160 shares of the company’s stock valued at $42,648,000 after purchasing an additional 44,817 shares during the period. Royal Bank of Canada increased its position in shares of PureCycle Technologies by 62.4% in the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after buying an additional 400,520 shares in the last quarter. Bank of America Corp DE increased its position in shares of PureCycle Technologies by 583.2% in the third quarter. Bank of America Corp DE now owns 623,293 shares of the company’s stock valued at $8,196,000 after buying an additional 532,062 shares in the last quarter. Finally, Simplify Asset Management Inc. raised its stake in shares of PureCycle Technologies by 13.8% during the 3rd quarter. Simplify Asset Management Inc. now owns 590,609 shares of the company’s stock worth $7,767,000 after buying an additional 71,592 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 1.5%

PCT opened at $5.11 on Thursday. The company has a market cap of $923.53 million, a PE ratio of -4.22 and a beta of 2.10. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $17.37. The company has a 50-day moving average price of $7.74 and a 200 day moving average price of $9.80. 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 (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.17). PureCycle Technologies had a negative return on equity of 204.74% and a negative net margin of 2,185.10%.The firm had revenue of $2.70 million during the quarter, compared to analyst estimates of $6.37 million. Sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. Cantor Fitzgerald cut their price target on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One 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 assigned a Sell rating to the company. According to MarketBeat, PureCycle Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

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.