Goodman Advisory Group LLC Invests $54,000 in PureCycle Technologies, Inc. (NYSE:PCT)

Goodman Advisory Group LLC acquired a new position in shares of PureCycle Technologies, Inc. (NYSE:PCT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 13,250 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Symphony Financial Ltd. Co. acquired a new position in shares of PureCycle Technologies during the fourth quarter worth approximately $43,000. Stratos Wealth Advisors LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter worth approximately $53,000. Tower Research Capital LLC TRC boosted its position in shares of PureCycle Technologies by 173.8% during the third quarter. Tower Research Capital LLC TRC now owns 9,634 shares of the company’s stock worth $54,000 after buying an additional 6,115 shares during the period. Integrated Advisors Network LLC bought a new stake in PureCycle Technologies during the third quarter worth approximately $56,000. Finally, Acorn Financial Advisory Services Inc. ADV bought a new stake in PureCycle Technologies during the fourth quarter worth approximately $63,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

PureCycle Technologies Price Performance

Shares of NYSE PCT traded down $0.09 during trading on Wednesday, hitting $5.21. The company had a trading volume of 1,643,869 shares, compared to its average volume of 1,635,338. The company has a market cap of $856.73 million, a P/E ratio of -7.89 and a beta of 1.51. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $11.89. The business’s 50-day moving average is $5.56 and its 200 day moving average is $4.62. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92.

PureCycle Technologies (NYSE:PCT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. Equities research analysts predict that PureCycle Technologies, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at PureCycle Technologies

In related news, Director Fernando Musa purchased 18,303 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $5.46 per share, with a total value of $99,934.38. Following the completion of the acquisition, the director now owns 68,413 shares of the company’s stock, valued at $373,534.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Capital cut PureCycle Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, December 19th. Roth Mkm cut PureCycle Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $6.00 to $3.00 in a report on Tuesday, December 19th. Finally, Craig Hallum cut PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.75.

About PureCycle Technologies

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.