Ethos Financial Group LLC Has $7.86 Million Stock Position in PureCycle Technologies, Inc. $PCT

Ethos Financial Group LLC lifted its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 26.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 574,008 shares of the company’s stock after purchasing an additional 120,654 shares during the period. Ethos Financial Group LLC owned 0.32% of PureCycle Technologies worth $7,864,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of PureCycle Technologies by 278.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock worth $35,000 after buying an additional 1,891 shares during the last quarter. CWM LLC raised its stake in shares of PureCycle Technologies by 158.7% in the 1st quarter. CWM LLC now owns 4,960 shares of the company’s stock valued at $34,000 after acquiring an additional 3,043 shares in the last quarter. KBC Group NV acquired a new stake in PureCycle Technologies in the 1st quarter worth approximately $41,000. Kathmere Capital Management LLC bought a new stake in PureCycle Technologies during the first quarter worth approximately $69,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in PureCycle Technologies during the second quarter valued at approximately $140,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCT has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 price objective on shares of PureCycle Technologies in a research note on Friday, August 8th. Seaport Res Ptn raised shares of PureCycle Technologies to a “strong-buy” rating in a research report on Wednesday, October 22nd. Northland Capmk upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Wall Street Zen cut PureCycle Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, PureCycle Technologies has an average rating of “Buy” and a consensus target price of $15.00.

PureCycle Technologies Stock Performance

NASDAQ:PCT opened at $10.32 on Thursday. The firm’s 50-day moving average is $13.32 and its 200-day moving average is $12.22. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -6.11 and a beta of 2.01. The company has a debt-to-equity ratio of 3.54, a quick ratio of 2.07 and a current ratio of 2.14. PureCycle Technologies, Inc. has a 52-week low of $5.40 and a 52-week high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, August 7th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $1.65 million during the quarter, compared to analyst estimates of $4.10 million. Equities research analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share 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.