PureCycle Technologies, Inc. $PCT Shares Bought by Fortis Group Advisors LLC

Fortis Group Advisors LLC grew its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 85.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,107 shares of the company’s stock after acquiring an additional 109,429 shares during the quarter. Fortis Group Advisors LLC owned about 0.13% of PureCycle Technologies worth $2,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of PureCycle Technologies by 6,571.8% in the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after acquiring an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of PureCycle Technologies in the third quarter valued at $35,000. Farther Finance Advisors LLC lifted 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 acquiring an additional 8,869 shares in the last quarter. Independent Advisor Alliance purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at $87,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at $88,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCT. TD Cowen reduced their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Cantor Fitzgerald reduced their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $11.86 on Thursday. The business’s 50-day moving average price is $7.13 and its 200 day moving average price is $8.47. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $17.37. The company has a market capitalization of $2.15 billion, a PE ratio of -8.07 and a beta of 2.31. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. On average, research analysts predict that PureCycle Technologies, Inc. will post -0.99 earnings per share for the current 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.