Quantinno Capital Management LP Acquires 375,486 Shares of PureCycle Technologies, Inc. $PCT

Quantinno Capital Management LP lifted its holdings in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 707.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 428,534 shares of the company’s stock after buying an additional 375,486 shares during the period. Quantinno Capital Management LP’s holdings in PureCycle Technologies were worth $2,224,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Drive Wealth Management LLC acquired a new position in PureCycle Technologies during the fourth quarter worth about $2,180,000. Indivisible Partners acquired a new stake in shares of PureCycle Technologies in the 4th quarter valued at approximately $5,803,000. PNC Financial Services Group Inc. boosted its stake in shares of PureCycle Technologies by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,445,556 shares of the company’s stock valued at $7,502,000 after purchasing an additional 222,996 shares in the last quarter. Fortis Group Advisors LLC grew its holdings in shares of PureCycle Technologies by 85.0% during the 4th quarter. Fortis Group Advisors LLC now owns 238,107 shares of the company’s stock valued at $2,045,000 after purchasing an additional 109,429 shares during the last quarter. Finally, Ethos Financial Group LLC increased its position in PureCycle Technologies by 27.9% during the 1st quarter. Ethos Financial Group LLC now owns 711,913 shares of the company’s stock worth $3,602,000 after purchasing an additional 155,140 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PCT. TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Wall Street Zen cut shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a report on Friday, June 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. Finally, Alembic Global Advisors set a $16.00 price objective on PureCycle Technologies in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PureCycle Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.75.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $7.25 on Tuesday. 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 market cap of $1.31 billion, a PE ratio of -4.97 and a beta of 2.57. The firm’s fifty day moving average is $7.99 and its 200-day moving average is $8.14.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51). The company had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 612.39%. Sell-side analysts predict that PureCycle Technologies, Inc. will post -1 earnings per share for the current 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.