Rokos Capital Management LLP Purchases New Position in PureCycle Technologies, Inc. $PCT

Rokos Capital Management LLP acquired a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,448,784 shares of the company’s stock, valued at approximately $7,526,000.

A number of other hedge funds have also bought and sold shares of the business. Quantinno Capital Management LP raised its holdings in PureCycle Technologies by 707.8% during the 1st quarter. Quantinno Capital Management LP now owns 428,534 shares of the company’s stock valued at $2,224,000 after acquiring an additional 375,486 shares during the period. Waverly Advisors LLC bought a new position in shares of PureCycle Technologies in the first quarter worth $99,000. Entropy Technologies LP boosted its holdings in shares of PureCycle Technologies by 197.8% in the first quarter. Entropy Technologies LP now owns 67,424 shares of the company’s stock worth $350,000 after acquiring an additional 44,784 shares during the period. Cetera Investment Advisers grew its position in shares of PureCycle Technologies by 1.7% in the first quarter. Cetera Investment Advisers now owns 110,643 shares of the company’s stock valued at $574,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Alpha Financial Partners LLC grew its position in shares of PureCycle Technologies by 53.5% in the first quarter. Alpha Financial Partners LLC now owns 31,792 shares of the company’s stock valued at $165,000 after purchasing an additional 11,079 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PCT. Alembic Global Advisors set a $16.00 price objective on PureCycle Technologies in a research note on Tuesday, June 16th. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. TD Cowen reduced their target price on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PureCycle Technologies in a research report on Friday, June 5th. Finally, Northland Securities set a $13.00 price target on shares of PureCycle Technologies in a report on Friday, June 12th. One equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.25.

PureCycle Technologies Stock Up 2.4%

Shares of NASDAQ:PCT opened at $5.99 on Tuesday. The firm has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $8.43. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -4.07 and a beta of 2.50. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. PureCycle Technologies, Inc. has a one year low of $4.93 and a one year high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. Analysts anticipate that PureCycle Technologies, Inc. will post -1 EPS for the current fiscal year.

PureCycle Technologies Company 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.