LJI Wealth Management LLC Acquires Shares of 12,500 PureCycle Technologies, Inc. (NASDAQ:PCT)

LJI Wealth Management LLC acquired a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,500 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in shares of PureCycle Technologies by 158.7% during the first quarter. CWM LLC now owns 4,960 shares of the company’s stock worth $34,000 after acquiring an additional 3,043 shares in the last quarter. Platform Technology Partners raised its position in shares of PureCycle Technologies by 52.2% in the first quarter. Platform Technology Partners now owns 125,822 shares of the company’s stock worth $871,000 after buying an additional 43,163 shares in the last quarter. Arizona State Retirement System raised its position in shares of PureCycle Technologies by 5.9% in the first quarter. Arizona State Retirement System now owns 37,301 shares of the company’s stock worth $258,000 after buying an additional 2,084 shares in the last quarter. Kathmere Capital Management LLC bought a new position in PureCycle Technologies in the first quarter valued at $69,000. Finally, Alpha Financial Partners LLC increased its stake in PureCycle Technologies by 27.8% in the first quarter. Alpha Financial Partners LLC now owns 50,364 shares of the company’s stock valued at $349,000 after acquiring an additional 10,962 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $15.25 on Monday. PureCycle Technologies, Inc. has a twelve month low of $4.50 and a twelve month high of $15.98. The firm has a market cap of $2.74 billion, a P/E ratio of -13.03 and a beta of 1.90. The company has a 50 day moving average of $11.06 and a 200 day moving average of $9.29. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.43.

PureCycle Technologies (NASDAQ:PCT) last posted its earnings results on Wednesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to analyst estimates of $4.27 million. As a group, research analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 price objective (up from $12.00) on shares of PureCycle Technologies in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of PureCycle Technologies from a “sell” rating to a “hold” rating in a report on Sunday. Finally, TD Cowen upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.