Alpha Financial Partners LLC Lowers Stake in PureCycle Technologies, Inc. $PCT

Alpha Financial Partners LLC lessened its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,494 shares of the company’s stock after selling 8,870 shares during the period. Alpha Financial Partners LLC’s holdings in PureCycle Technologies were worth $568,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in PureCycle Technologies during the first quarter valued at about $25,000. CWM LLC lifted its stake in shares of PureCycle Technologies by 158.7% during the first quarter. CWM LLC now owns 4,960 shares of the company’s stock worth $34,000 after purchasing an additional 3,043 shares in the last quarter. KBC Group NV acquired a new position in shares of PureCycle Technologies during the first quarter worth about $41,000. Kathmere Capital Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter worth about $69,000. Finally, LJI Wealth Management LLC acquired a new position in shares of PureCycle Technologies during the first quarter worth about $86,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PCT. Cowen restated a “buy” rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a research note on Tuesday, August 26th. Wall Street Zen cut PureCycle Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday. Finally, Northland Securities initiated coverage on PureCycle Technologies in a research note on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.00.

PureCycle Technologies Trading Down 6.3%

Shares of NASDAQ PCT opened at $13.58 on Friday. The stock’s 50 day moving average price is $13.43 and its two-hundred day moving average price is $11.39. PureCycle Technologies, Inc. has a 52-week low of $5.40 and a 52-week high of $17.37. The stock has a market capitalization of $2.45 billion, a P/E ratio of -8.04 and a beta of 2.01. The company has a quick ratio of 2.07, a current ratio of 2.14 and a debt-to-equity ratio of 3.54.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $4.10 million. On average, analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

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.