GFS Advisors LLC Buys 16,400 Shares of PureCycle Technologies, Inc. $PCT

GFS Advisors LLC increased its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 90.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,500 shares of the company’s stock after purchasing an additional 16,400 shares during the quarter. GFS Advisors LLC’s holdings in PureCycle Technologies were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Duquesne Family Office LLC lifted its holdings in shares of PureCycle Technologies by 111.3% during the first quarter. Duquesne Family Office LLC now owns 3,364,842 shares of the company’s stock valued at $23,285,000 after purchasing an additional 1,772,342 shares in the last quarter. SWS Partners lifted its holdings in shares of PureCycle Technologies by 2.8% during the first quarter. SWS Partners now owns 757,279 shares of the company’s stock valued at $5,240,000 after purchasing an additional 20,547 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its holdings in shares of PureCycle Technologies by 218.2% during the second quarter. Fortitude Advisory Group L.L.C. now owns 70,000 shares of the company’s stock valued at $959,000 after purchasing an additional 48,000 shares in the last quarter. Huntleigh Advisors Inc. bought a new position in shares of PureCycle Technologies during the first quarter valued at $4,844,000. Finally, Nuveen LLC bought a new position in shares of PureCycle Technologies during the first quarter valued at $2,306,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Stock Down 6.3%

PureCycle Technologies stock opened at $13.58 on Friday. The stock has a market cap of $2.45 billion, a PE ratio of -8.04 and a beta of 2.01. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. PureCycle Technologies, Inc. has a one year low of $5.40 and a one year high of $17.37. The stock has a fifty day moving average of $13.43 and a 200 day moving average of $11.39.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $1.65 million during the quarter, compared to analyst estimates of $4.10 million. As a group, sell-side analysts predict that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Northland Capmk raised PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. TD Cowen raised PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $16.00 price objective on shares of PureCycle Technologies in a research report on Friday, August 8th. Wall Street Zen cut PureCycle Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Finally, Northland Securities assumed coverage on PureCycle Technologies in a research report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PureCycle Technologies presently has a consensus rating of “Buy” and a consensus price target 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.