Clough Capital Partners L P Takes $885,000 Position in PureCycle Technologies, Inc. $PCT

Clough Capital Partners L P acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 102,974 shares of the company’s stock, valued at approximately $885,000. Clough Capital Partners L P owned about 0.06% of PureCycle Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PCT. Simplify Asset Management Inc. lifted its position in shares of PureCycle Technologies by 227.4% during the 4th quarter. Simplify Asset Management Inc. now owns 1,933,564 shares of the company’s stock valued at $16,609,000 after acquiring an additional 1,342,955 shares during the last quarter. HRT Financial LP lifted its holdings in shares of PureCycle Technologies by 208.2% in the fourth quarter. HRT Financial LP now owns 1,072,543 shares of the company’s stock valued at $9,213,000 after purchasing an additional 724,495 shares in the last quarter. Indivisible Partners purchased a new stake in shares of PureCycle Technologies in the fourth quarter valued at $5,803,000. Millennium Management LLC purchased a new stake in shares of PureCycle Technologies in the first quarter valued at $3,770,000. Finally, Bank of America Corp DE lifted its holdings in shares of PureCycle Technologies by 583.2% in the third quarter. Bank of America Corp DE now owns 623,293 shares of the company’s stock valued at $8,196,000 after purchasing an additional 532,062 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Trading Up 5.3%

NASDAQ PCT opened at $8.62 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. The company has a market capitalization of $1.56 billion, a PE ratio of -5.86 and a beta of 2.48. PureCycle Technologies, Inc. has a 1-year low of $4.93 and a 1-year high of $17.37. The firm’s fifty day simple moving average is $9.43 and its 200-day simple moving average is $8.75.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. As a group, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen lowered PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Cantor Fitzgerald reduced their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. Northland Securities set a $13.00 target price on PureCycle Technologies in a report on Friday, June 12th. Finally, TD Cowen reduced their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

PureCycle Technologies Company 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.