OneDigital Investment Advisors LLC Purchases New Stake in PureCycle Technologies, Inc. $PCT

OneDigital Investment Advisors LLC acquired a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 118,916 shares of the company’s stock, valued at approximately $964,000. OneDigital Investment Advisors LLC owned 0.07% of PureCycle Technologies at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PCT. Larson Financial Group LLC boosted its position in shares of PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after purchasing an additional 2,563 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of PureCycle Technologies in the 3rd quarter valued at about $35,000. SHP Wealth Management purchased a new position in shares of PureCycle Technologies in the 4th quarter valued at about $43,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PureCycle Technologies in the first quarter valued at about $33,000. Finally, Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 8,869 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Wall Street Zen downgraded shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. TD Cowen decreased their price target on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Alembic Global Advisors set a $16.00 price target on PureCycle Technologies in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald lowered their price target on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PureCycle Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $11.75.

PureCycle Technologies Trading Up 3.9%

NASDAQ:PCT opened at $7.22 on Tuesday. The company has a market capitalization of $1.45 billion, a PE ratio of -4.95 and a beta of 2.57. The company has a quick ratio of 2.42, a current ratio of 2.60 and a debt-to-equity ratio of 27.37. PureCycle Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $15.49. The stock has a fifty day simple moving average of $7.41 and a 200-day simple moving average of $7.99.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. The business had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. On average, equities research analysts expect that PureCycle Technologies, Inc. will post -0.9 earnings per share for the current fiscal year.

PureCycle Technologies Profile

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.