Fernando Musa Acquires 15,479 Shares of PureCycle Technologies (NASDAQ:PCT) Stock

PureCycle Technologies, Inc. (NASDAQ:PCT) Director Fernando Musa acquired 15,479 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were bought at an average cost of $6.38 per share, with a total value of $98,756.02. Following the completion of the acquisition, the director directly owned 175,983 shares in the company, valued at $1,122,771.54. The trade was a 9.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

PureCycle Technologies Stock Down 3.7%

Shares of NASDAQ:PCT opened at $6.27 on Thursday. The firm has a market capitalization of $1.26 billion, a PE ratio of -4.29 and a beta of 2.57. The company has a debt-to-equity ratio of 27.37, a quick ratio of 2.42 and a current ratio of 2.60. PureCycle Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $15.49. The firm has a fifty day moving average of $6.73 and a 200 day moving average of $7.65.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.51). The firm had revenue of $4.51 million for 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, research analysts anticipate that PureCycle Technologies, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PCT shares. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a research report on Friday, June 12th. Cantor Fitzgerald lowered 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. Alembic Global Advisors set a $16.00 price objective on shares of PureCycle Technologies in a research note on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Hold” and a consensus target price of $11.75.

Institutional Trading of PureCycle Technologies

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

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.