PureCycle Technologies, Inc. $PCT Shares Sold by Harvard Management Co. Inc.

Harvard Management Co. Inc. reduced its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,902,811 shares of the company’s stock after selling 595,359 shares during the period. PureCycle Technologies accounts for about 1.8% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 11th largest position. Harvard Management Co. Inc. owned about 1.06% of PureCycle Technologies worth $26,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Intech Investment Management LLC lifted its stake in shares of PureCycle Technologies by 1.5% during the second quarter. Intech Investment Management LLC now owns 98,089 shares of the company’s stock valued at $1,344,000 after buying an additional 1,469 shares during the period. Cetera Investment Advisers raised its holdings in PureCycle Technologies by 75.4% in the 2nd quarter. Cetera Investment Advisers now owns 109,329 shares of the company’s stock valued at $1,498,000 after acquiring an additional 46,992 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of PureCycle Technologies by 15.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 29,219 shares of the company’s stock worth $400,000 after purchasing an additional 3,894 shares during the period. Geode Capital Management LLC lifted its stake in shares of PureCycle Technologies by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,391,126 shares of the company’s stock worth $46,465,000 after purchasing an additional 71,401 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of PureCycle Technologies by 100.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,383,478 shares of the company’s stock worth $18,954,000 after purchasing an additional 691,809 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCT. Cowen reiterated a “buy” rating on shares of PureCycle Technologies in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th. Northland Capmk upgraded shares of PureCycle Technologies to a “strong-buy” rating in a report on Tuesday, August 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 target price on shares of PureCycle Technologies in a report on Friday, August 8th. Finally, Northland Securities began coverage on shares of PureCycle Technologies in a research report on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PureCycle Technologies presently has a consensus rating of “Buy” and a consensus price target of $15.00.

PureCycle Technologies Stock Up 3.5%

PCT opened at $9.19 on Friday. PureCycle Technologies, Inc. has a 1 year low of $5.40 and a 1 year high of $17.37. The firm has a 50 day moving average price of $12.75 and a 200 day moving average price of $12.38. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.07 and a current ratio of 2.24. The company has a market cap of $1.66 billion, a PE ratio of -6.29 and a beta of 2.01.

PureCycle Technologies (NASDAQ:PCT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The business had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $6.04 million. Sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

PureCycle Technologies Company 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.