First National Bank of Omaha Purchases New Holdings in PureCycle Technologies, Inc. $PCT

First National Bank of Omaha purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 173,182 shares of the company’s stock, valued at approximately $1,405,000.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in PureCycle Technologies by 6,571.8% during the third 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 during the period. Advisory Services Network LLC purchased a new position in shares of PureCycle Technologies during the third quarter worth $35,000. SHP Wealth Management purchased a new position in PureCycle Technologies during the 4th quarter valued at about $43,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of PureCycle Technologies in the first quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC grew 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 worth $79,000 after acquiring an additional 8,869 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $7.17 on Thursday. The company has a current ratio of 2.60, a quick ratio of 2.42 and a debt-to-equity ratio of 27.37. The company’s 50-day moving average price is $7.27 and its 200 day moving average price is $7.94. PureCycle Technologies, Inc. has a 52 week low of $4.93 and a 52 week high of $15.49. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.91 and a beta of 2.57.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCT shares. Northland Securities set a $13.00 target price on shares of PureCycle Technologies in a report on Friday, June 12th. Cantor Fitzgerald dropped their price target on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Wall Street Zen cut PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.75.

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.