PureCycle Technologies, Inc. $PCT Stock Position Raised by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. raised its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 218.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,000 shares of the company’s stock after acquiring an additional 48,000 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in PureCycle Technologies were worth $959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PCT. California State Teachers Retirement System boosted its holdings in PureCycle Technologies by 3.8% in the fourth quarter. California State Teachers Retirement System now owns 113,708 shares of the company’s stock worth $1,166,000 after purchasing an additional 4,170 shares in the last quarter. GAMMA Investing LLC raised its holdings in PureCycle Technologies by 1,693.0% during the first quarter. GAMMA Investing LLC now owns 12,587 shares of the company’s stock valued at $87,000 after buying an additional 11,885 shares in the last quarter. NBC Securities Inc. bought a new position in PureCycle Technologies during the first quarter valued at about $25,000. Lake Hills Wealth Management LLC raised its holdings in PureCycle Technologies by 35.9% during the first quarter. Lake Hills Wealth Management LLC now owns 60,600 shares of the company’s stock valued at $419,000 after buying an additional 16,004 shares in the last quarter. Finally, Deane Retirement Strategies Inc. raised its holdings in PureCycle Technologies by 4.9% during the first quarter. Deane Retirement Strategies Inc. now owns 71,119 shares of the company’s stock valued at $492,000 after buying an additional 3,325 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.59 on Friday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -8.04 and a beta of 2.01. The company has a 50 day moving average of $13.36 and a 200-day moving average of $11.16. The company has a current ratio of 2.14, a quick ratio of 2.07 and a debt-to-equity ratio of 3.54. PureCycle Technologies, Inc. has a 1-year low of $5.40 and a 1-year high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $4.10 million. On average, equities analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen lowered PureCycle Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 21st. TD Cowen upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 price target on shares of PureCycle Technologies in a report on Friday, August 8th. Northland Securities assumed coverage on shares of PureCycle Technologies in a report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.00.

PureCycle Technologies Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.