WINTON GROUP Ltd Takes Position in PureCycle Technologies, Inc. $PCT

WINTON GROUP Ltd bought a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 126,786 shares of the company’s stock, valued at approximately $1,028,000.

Other hedge funds also recently bought and sold shares of the company. Appian Way Asset Management LP lifted its position in shares of PureCycle Technologies by 1.4% in the third quarter. Appian Way Asset Management LP now owns 4,315,655 shares of the company’s stock valued at $56,751,000 after acquiring an additional 59,676 shares in the last quarter. Geode Capital Management LLC raised its stake in PureCycle Technologies by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,365,871 shares of the company’s stock valued at $28,918,000 after purchasing an additional 15,536 shares during the period. Simplify Asset Management Inc. lifted its holdings in PureCycle Technologies by 227.4% in the 4th quarter. Simplify Asset Management Inc. now owns 1,933,564 shares of the company’s stock worth $16,609,000 after purchasing an additional 1,342,955 shares in the last quarter. Royal Bank of Canada boosted its stake in PureCycle Technologies by 41.8% in the 4th quarter. Royal Bank of Canada now owns 1,671,756 shares of the company’s stock worth $14,361,000 after purchasing an additional 492,975 shares during the period. Finally, Rokos Capital Management LLP purchased a new stake in PureCycle Technologies during the 1st quarter valued at approximately $7,526,000. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCT shares. Alembic Global Advisors set a $16.00 target price on shares of PureCycle Technologies in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Wednesday, September 2nd. Cantor Fitzgerald dropped their price objective on shares of PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Northland Securities set a $13.00 price objective on PureCycle Technologies in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.75.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, Director Fernando Musa acquired 15,479 shares of the company’s stock in a transaction on Friday, September 4th. The stock was acquired at an average cost of $6.38 per share, with a total value of $98,756.02. Following the purchase, the director directly owned 175,983 shares of the company’s stock, valued at approximately $1,122,771.54. This represents a 9.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.80% of the stock is owned by insiders.

PureCycle Technologies Price Performance

NASDAQ PCT opened at $6.02 on Monday. The stock has a 50 day moving average price of $6.66 and a 200-day moving average price of $7.61. PureCycle Technologies, Inc. has a one year low of $4.93 and a one year high of $15.49. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. The company has a market capitalization of $1.21 billion, a P/E ratio of -4.12 and a beta of 2.57.

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

PureCycle Technologies Company Profile

PureCycle Technologies, Inc is a chemical recycling company that develops and operates technology designed to convert waste polypropylene plastic into recycled polypropylene resin. Unlike conventional mechanical recycling, which can leave behind colors, odors and other contaminants, PureCycle’s proprietary purification process is intended to separate impurities from polypropylene and produce a recycled material with properties similar to virgin resin.

The company’s products are recycled polypropylene pellets and related materials that can be used in applications such as packaging, consumer products, automotive components and other molded plastic goods.