Price T Rowe Associates Inc. MD Raises Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Price T Rowe Associates Inc. MD increased its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,035 shares of the company’s stock after buying an additional 8,959 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of PureCycle Technologies worth $1,108,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of PureCycle Technologies by 286.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock worth $32,000 after buying an additional 2,291 shares in the last quarter. Sterling Capital Management LLC lifted its stake in PureCycle Technologies by 775.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock worth $33,000 after acquiring an additional 2,861 shares during the period. US Bancorp DE grew its holdings in PureCycle Technologies by 141.5% during the 4th quarter. US Bancorp DE now owns 3,446 shares of the company’s stock worth $35,000 after acquiring an additional 2,019 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in PureCycle Technologies during the 4th quarter valued at about $80,000. Finally, Keudell Morrison Wealth Management bought a new stake in shares of PureCycle Technologies in the 4th quarter valued at about $117,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

PCT opened at $7.29 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of -4.86 and a beta of 1.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The business’s 50-day moving average is $6.98 and its two-hundred day moving average is $9.59. PureCycle Technologies, Inc. has a 1 year low of $4.50 and a 1 year high of $15.58.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The firm had revenue of $1.58 million for the quarter, compared to analysts’ expectations of $4.27 million. Research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TD Cowen dropped their price objective on shares of PureCycle Technologies from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday.

PureCycle Technologies Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.