Cambridge Investment Research Advisors Inc. reduced its position in shares of PureCycle Technologies, Inc. (NYSE:PCT – Get Rating) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,720 shares of the company's stock after selling 2,159 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.06% of PureCycle Technologies worth $748,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Altium Wealth Management LLC boosted its holdings in shares of PureCycle Technologies by 73.2% during the 2nd quarter. Altium Wealth Management LLC now owns 22,001 shares of the company's stock worth $163,000 after buying an additional 9,300 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in PureCycle Technologies in the 2nd quarter valued at $281,000. Van ECK Associates Corp boosted its holdings in PureCycle Technologies by 1.5% in the 2nd quarter. Van ECK Associates Corp now owns 272,530 shares of the company's stock valued at $2,022,000 after purchasing an additional 4,050 shares during the period. Kenfarb & CO. bought a new stake in PureCycle Technologies in the 1st quarter valued at $520,000. Finally, Venture Visionary Partners LLC bought a new stake in PureCycle Technologies in the 2nd quarter valued at $438,000. 83.82% of the stock is owned by institutional investors.
Get PureCycle Technologies alerts:Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of PureCycle Technologies in a report on Thursday, September 15th. They issued a "buy" rating and a $15.00 price target for the company. Cowen reduced their price target on shares of PureCycle Technologies from $15.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, November 11th.
PureCycle Technologies Price Performance
NYSE:PCT opened at $6.77 on Friday. The company has a 50-day moving average of $6.71 and a 200-day moving average of $7.82. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.75 and a beta of 0.74. PureCycle Technologies, Inc. has a 52 week low of $4.94 and a 52 week high of $10.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 7.01 and a current ratio of 7.01.PureCycle Technologies (NYSE:PCT – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.09). As a group, equities research analysts anticipate that PureCycle Technologies, Inc. will post -0.59 earnings per share for the current fiscal year.
About PureCycle Technologies
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PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. The company was founded in 2015 and is headquartered in Orlando, Florida.
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