NINE MASTS CAPITAL Ltd Makes New $1.50 Million Investment in PureCycle Technologies, Inc. $PCT

NINE MASTS CAPITAL Ltd bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 185,000 shares of the company’s stock, valued at approximately $1,500,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in shares of PureCycle Technologies by 6,571.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock valued at $34,000 after purchasing an additional 2,563 shares during the last quarter. Advisory Services Network LLC acquired a new position in PureCycle Technologies during the third quarter worth approximately $35,000. SHP Wealth Management acquired a new position in PureCycle Technologies during the fourth quarter worth approximately $43,000. Cassaday & Co Wealth Management LLC acquired a new position in PureCycle Technologies during the first quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC lifted its stake in PureCycle Technologies by 3,047.8% in the fourth quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock valued at $79,000 after buying an additional 8,869 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

PureCycle Technologies Trading Up 3.9%

Shares of PCT stock opened at $7.22 on Tuesday. The business’s 50 day moving average is $7.41 and its two-hundred day moving average is $7.99. PureCycle Technologies, Inc. has a twelve month low of $4.93 and a twelve month high of $15.49. The company has a market capitalization of $1.45 billion, a P/E ratio of -4.95 and a beta of 2.57. The company has a current ratio of 2.60, a quick ratio of 2.42 and a debt-to-equity ratio of 27.37.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCT shares. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th. Cantor Fitzgerald decreased their price target on shares of PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PureCycle Technologies in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.75.

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.