PureCycle Technologies, Inc. $PCT Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 1,047.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 258,502 shares of the company’s stock after acquiring an additional 235,981 shares during the period. Federated Hermes Inc. owned 0.14% of PureCycle Technologies worth $3,399,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cypress Capital Management LLC WY acquired a new position in PureCycle Technologies during the 3rd quarter valued at about $169,000. Copia Wealth Management raised its holdings in shares of PureCycle Technologies by 8.0% during the third quarter. Copia Wealth Management now owns 64,017 shares of the company’s stock valued at $842,000 after buying an additional 4,763 shares during the last quarter. Platform Technology Partners raised its holdings in shares of PureCycle Technologies by 13.1% during the third quarter. Platform Technology Partners now owns 97,799 shares of the company’s stock valued at $1,286,000 after buying an additional 11,312 shares during the last quarter. Violich Capital Management Inc. boosted its position in shares of PureCycle Technologies by 9.2% during the third quarter. Violich Capital Management Inc. now owns 26,100 shares of the company’s stock worth $343,000 after buying an additional 2,200 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in PureCycle Technologies by 8.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,690 shares of the company’s stock worth $443,000 after buying an additional 2,459 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

PureCycle Technologies Stock Up 5.1%

Shares of PCT stock opened at $9.87 on Wednesday. PureCycle Technologies, Inc. has a 1 year low of $5.40 and a 1 year high of $17.37. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24. The business’s fifty day moving average is $9.63 and its 200-day moving average is $11.67. The stock has a market cap of $1.78 billion, a PE ratio of -6.76 and a beta of 2.05.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.19). The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $6.04 million. Equities analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. TD Cowen restated a “hold” rating and set a $9.00 price objective (down from $16.00) on shares of PureCycle Technologies in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

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.