Ethos Financial Group LLC Increases Stock Holdings in PureCycle Technologies, Inc. $PCT

Ethos Financial Group LLC boosted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 27.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 711,913 shares of the company’s stock after buying an additional 155,140 shares during the quarter. Ethos Financial Group LLC’s holdings in PureCycle Technologies were worth $3,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake 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 buying an additional 2,563 shares in the last quarter. Advisory Services Network LLC acquired a new position in PureCycle Technologies during the 3rd quarter worth about $35,000. SHP Wealth Management purchased a new position in PureCycle Technologies during the 4th quarter valued at about $43,000. Farther Finance Advisors LLC boosted its holdings in PureCycle Technologies by 3,047.8% during the 4th 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 during the period. Finally, Independent Advisor Alliance acquired a new position in PureCycle Technologies in the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PCT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Wall Street Zen downgraded shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research note on Friday, June 12th. 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 note on Friday, May 8th. Finally, Alembic Global Advisors set a $16.00 target price on PureCycle Technologies in a report on Tuesday, June 16th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.25.

PureCycle Technologies Trading Up 0.9%

NASDAQ PCT opened at $6.76 on Wednesday. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. The firm’s fifty day moving average price is $9.81 and its 200 day moving average price is $8.60. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.60 and a beta of 2.50. PureCycle Technologies, Inc. has a 12 month low of $4.93 and a 12 month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 393.01% and a negative net margin of 2,062.36%. On average, sell-side analysts expect that PureCycle Technologies, Inc. will post -1 earnings per share for the current fiscal 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.