212,938 Shares in PureCycle Technologies, Inc. $PCT Acquired by Grand Central Investment Group

Grand Central Investment Group acquired a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 212,938 shares of the company’s stock, valued at approximately $1,105,000. PureCycle Technologies accounts for 0.8% of Grand Central Investment Group’s holdings, making the stock its 28th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Focused Wealth Management Inc raised its position in PureCycle Technologies by 7.1% in the fourth quarter. Focused Wealth Management Inc now owns 15,005 shares of the company’s stock valued at $129,000 after purchasing an additional 1,000 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of PureCycle Technologies by 4.3% during the first quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after buying an additional 1,516 shares during the period. ProShare Advisors LLC boosted its position in shares of PureCycle Technologies by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 23,738 shares of the company’s stock worth $204,000 after buying an additional 1,526 shares during the period. Lido Advisors LLC grew its stake in shares of PureCycle Technologies by 5.0% in the third quarter. Lido Advisors LLC now owns 32,824 shares of the company’s stock valued at $432,000 after buying an additional 1,574 shares in the last quarter. Finally, Round Rock Advisors LLC grew its stake in shares of PureCycle Technologies by 7.5% in the fourth quarter. Round Rock Advisors LLC now owns 28,202 shares of the company’s stock valued at $242,000 after buying an additional 1,977 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 2.2%

PureCycle Technologies stock opened at $7.62 on Tuesday. The firm has a market capitalization of $1.38 billion, a P/E ratio of -5.18 and a beta of 2.48. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $17.37. The stock’s fifty day simple moving average is $9.76 and its 200-day simple moving average is $8.70.

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

Wall Street Analyst Weigh In

PCT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. Alembic Global Advisors set a $16.00 price target on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th. Wall Street Zen lowered shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.