JT Stratford LLC Reduces Stock Position in PureCycle Technologies, Inc. $PCT

JT Stratford LLC decreased its position in PureCycle Technologies, Inc. (NASDAQ:PCT) by 74.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,752 shares of the company’s stock after selling 84,365 shares during the quarter. JT Stratford LLC’s holdings in PureCycle Technologies were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of PureCycle Technologies by 62.4% during the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock worth $7,213,000 after buying an additional 400,520 shares in the last quarter. AQR Capital Management LLC boosted its position in PureCycle Technologies by 67.9% during the first quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after acquiring an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in PureCycle Technologies by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock worth $253,000 after acquiring an additional 1,516 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PureCycle Technologies by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock valued at $507,000 after acquiring an additional 3,161 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of PureCycle Technologies during the 1st quarter worth $3,770,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCT has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “hold” rating and issued a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Cantor Fitzgerald decreased their price target 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.00.

PureCycle Technologies Price Performance

Shares of PureCycle Technologies stock opened at $6.00 on Friday. The business’s fifty day moving average price is $9.42 and its 200 day moving average price is $10.85. PureCycle Technologies, Inc. has a twelve month low of $5.40 and a twelve month high of $17.37. The company has a current ratio of 2.26, a quick ratio of 2.15 and a debt-to-equity ratio of 7.62. The stock has a market capitalization of $1.08 billion, a P/E ratio of -4.96 and a beta of 2.07.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). PureCycle Technologies had a negative return on equity of 204.74% and a negative net margin of 2,185.10%.The firm had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $6.37 million. As a group, research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies Profile

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.