Cypress Capital Management LLC WY Grows Position in PureCycle Technologies, Inc. $PCT

Cypress Capital Management LLC WY increased its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 470.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,153 shares of the company’s stock after buying an additional 60,332 shares during the quarter. Cypress Capital Management LLC WY’s holdings in PureCycle Technologies were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PCT. Larson Financial Group LLC grew its stake in PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after buying an additional 2,563 shares during the last quarter. Advisory Services Network LLC purchased a new position in PureCycle Technologies during the 3rd quarter worth approximately $35,000. Farther Finance Advisors LLC grew its stake 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 worth $79,000 after buying an additional 8,869 shares during the last quarter. Independent Advisor Alliance purchased a new position in PureCycle Technologies during the 4th quarter worth approximately $87,000. Finally, Stratos Wealth Partners LTD. purchased a new position in PureCycle Technologies during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PCT. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Cantor Fitzgerald lowered their target price on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, TD Cowen lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

PureCycle Technologies Stock Up 8.4%

PCT opened at $12.27 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 business has a 50 day simple moving average of $7.59 and a 200-day simple moving average of $8.50. The stock has a market capitalization of $2.22 billion, a P/E ratio of -8.35 and a beta of 2.31. PureCycle Technologies, Inc. has a 12 month low of $4.93 and a 12 month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations 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, equities analysts anticipate that PureCycle Technologies, Inc. will post -0.99 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.