Fox Run Management L.L.C. Invests $182,000 in PureCycle Technologies, Inc. $PCT

Fox Run Management L.L.C. purchased a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 26,281 shares of the company’s stock, valued at approximately $182,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in PureCycle Technologies during the 1st quarter worth approximately $25,000. Sterling Capital Management LLC boosted its stake in shares of PureCycle Technologies by 775.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,230 shares of the company’s stock valued at $33,000 after buying an additional 2,861 shares during the last quarter. CWM LLC grew 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 buying an additional 3,043 shares in the last quarter. KBC Group NV bought a new stake in shares of PureCycle Technologies in the first quarter worth $41,000. Finally, Kathmere Capital Management LLC acquired a new stake in PureCycle Technologies in the first quarter valued at $69,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PCT. Wall Street Zen lowered shares of PureCycle Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 21st. TD Cowen upgraded PureCycle Technologies to a “strong-buy” rating in a research note on Monday, June 23rd. Cowen reissued a “buy” rating on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, PureCycle Technologies has a consensus rating of “Buy” and a consensus target price of $14.67.

PureCycle Technologies Price Performance

Shares of NASDAQ:PCT opened at $12.59 on Thursday. The company has a market cap of $2.27 billion, a PE ratio of -7.45 and a beta of 1.94. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $17.37. The firm has a 50-day simple moving average of $13.94 and a 200 day simple moving average of $10.13. The company has a quick ratio of 2.07, a current ratio of 2.14 and a debt-to-equity ratio of 3.54.

PureCycle Technologies (NASDAQ:PCT) last issued its earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $4.10 million. On average, sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 EPS for the current year.

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.