Anthracite Investment Company Inc. Takes Position in PureCycle Technologies, Inc. $PCT

Anthracite Investment Company Inc. acquired a new stake in PureCycle Technologies, Inc. (NASDAQ:PCT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 214,003 shares of the company’s stock, valued at approximately $2,932,000. PureCycle Technologies makes up about 1.5% of Anthracite Investment Company Inc.’s portfolio, making the stock its 26th largest holding. Anthracite Investment Company Inc. owned approximately 0.12% of PureCycle Technologies at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Sylebra Capital LLC increased its holdings in PureCycle Technologies by 1.9% in the first quarter. Sylebra Capital LLC now owns 34,077,574 shares of the company’s stock valued at $235,817,000 after buying an additional 619,925 shares during the last quarter. Vanguard Group Inc. increased its holdings in PureCycle Technologies by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,761,344 shares of the company’s stock valued at $102,149,000 after buying an additional 660,837 shares during the last quarter. Samlyn Capital LLC increased its holdings in PureCycle Technologies by 19.1% in the first quarter. Samlyn Capital LLC now owns 6,222,136 shares of the company’s stock valued at $43,057,000 after buying an additional 997,337 shares during the last quarter. Duquesne Family Office LLC increased its holdings in PureCycle Technologies by 111.3% in the first quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company’s stock valued at $23,285,000 after buying an additional 1,772,342 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in PureCycle Technologies by 66.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,249,781 shares of the company’s stock valued at $15,569,000 after buying an additional 897,694 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.10 on Friday. 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, Inc. has a 52-week low of $5.40 and a 52-week high of $17.37. The business’s 50-day moving average price is $13.56 and its 200 day moving average price is $11.88. The firm has a market cap of $2.36 billion, a P/E ratio of -7.75 and a beta of 2.01.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 price objective on shares of PureCycle Technologies in a report on Friday, August 8th. Seaport Res Ptn raised PureCycle Technologies to a “strong-buy” rating in a report on Wednesday. Wall Street Zen lowered PureCycle Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Northland Securities began coverage on PureCycle Technologies in a report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of PureCycle Technologies in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PureCycle Technologies currently has a consensus rating of “Buy” and an average target price of $15.00.

About PureCycle Technologies

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.