Simplify Asset Management Inc. Grows Stake in PureCycle Technologies, Inc. $PCT

Simplify Asset Management Inc. boosted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 227.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,933,564 shares of the company’s stock after purchasing an additional 1,342,955 shares during the quarter. PureCycle Technologies comprises about 0.3% of Simplify Asset Management Inc.’s portfolio, making the stock its 16th biggest position. Simplify Asset Management Inc. owned 1.07% of PureCycle Technologies worth $16,609,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in PureCycle Technologies by 6,571.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after purchasing an additional 2,563 shares during the period. Advisory Services Network LLC purchased a new position in PureCycle Technologies during the 3rd quarter worth $35,000. Farther Finance Advisors LLC increased its holdings in PureCycle Technologies by 3,047.8% during the 4th quarter. Farther Finance Advisors LLC now owns 9,160 shares of the company’s stock worth $79,000 after purchasing an additional 8,869 shares during the period. Independent Advisor Alliance purchased a new position in PureCycle Technologies during the 4th quarter worth $87,000. Finally, Stratos Wealth Partners LTD. purchased a new position in PureCycle Technologies during the 4th quarter worth $88,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Price Performance

Shares of NASDAQ PCT opened at $11.32 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59. The stock has a market capitalization of $2.05 billion, a PE ratio of -7.70 and a beta of 2.31. The stock’s fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $8.48. PureCycle Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.83 million. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%. As a group, analysts expect that PureCycle Technologies, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PCT. TD Cowen reduced their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Finally, Cantor Fitzgerald reduced their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.00.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.