Vanguard Group Inc. Cuts Holdings in PureCycle Technologies, Inc. $PCT

Vanguard Group Inc. reduced its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,933,557 shares of the company’s stock after selling 273,905 shares during the quarter. Vanguard Group Inc. owned 8.29% of PureCycle Technologies worth $128,279,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in 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 during the period. Advisory Services Network LLC acquired a new stake in PureCycle Technologies in the third quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its position in shares of PureCycle Technologies by 3,047.8% in the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock valued at $79,000 after buying an additional 8,869 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at approximately $88,000. Finally, Occidental Asset Management LLC acquired a new position in shares of PureCycle Technologies during the 4th quarter worth approximately $109,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. Cantor Fitzgerald reduced their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Wall Street Zen lowered shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, TD Cowen cut 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 note on Friday. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

PureCycle Technologies Stock Up 3.8%

Shares of PCT opened at $9.89 on Tuesday. The stock has a 50 day moving average price of $6.35 and a 200 day moving average price of $8.52. 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 stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.73 and a beta of 2.31.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%.The company had revenue of $4.13 million for the quarter, compared to analyst estimates of $3.83 million. Equities research analysts forecast that PureCycle Technologies, Inc. will post -0.93 earnings per share for the current fiscal year.

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.