First National Bank of Omaha Acquires Shares of 204,123 PureCycle Technologies, Inc. $PCT

First National Bank of Omaha bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 204,123 shares of the company’s stock, valued at approximately $2,684,000.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in PureCycle Technologies by 100.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,383,478 shares of the company’s stock worth $18,954,000 after acquiring an additional 691,809 shares during the period. Millennium Management LLC acquired a new position in shares of PureCycle Technologies during the 1st quarter worth approximately $3,770,000. Royal Bank of Canada grew its position in shares of PureCycle Technologies by 62.4% during the 1st quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock worth $7,213,000 after purchasing an additional 400,520 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of PureCycle Technologies by 1,047.8% during the third quarter. Federated Hermes Inc. now owns 258,502 shares of the company’s stock worth $3,399,000 after purchasing an additional 235,981 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new stake in shares of PureCycle Technologies in the second quarter valued at approximately $2,932,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Trading Up 3.7%

Shares of PCT opened at $8.90 on Thursday. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24. PureCycle Technologies, Inc. has a 52-week low of $5.40 and a 52-week high of $17.37. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -6.10 and a beta of 2.05. The business’s fifty day moving average is $9.67 and its 200-day moving average is $11.26.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCT. Weiss Ratings reissued a “sell (d-)” rating on shares of PureCycle Technologies in a research report on Thursday, January 22nd. TD Cowen reissued a “hold” rating and set a $9.00 target price (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PureCycle Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $13.67.

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.