UBS Group AG Boosts Holdings in PureCycle Technologies, Inc. $PCT

UBS Group AG grew its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 43.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,164,573 shares of the company’s stock after buying an additional 351,630 shares during the period. UBS Group AG’s holdings in PureCycle Technologies were worth $10,004,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PCT. Millennium Management LLC purchased a new stake in shares of PureCycle Technologies during the first quarter valued at approximately $3,770,000. Bank of America Corp DE raised its stake in shares of PureCycle Technologies by 583.2% during the third quarter. Bank of America Corp DE now owns 623,293 shares of the company’s stock valued at $8,196,000 after purchasing an additional 532,062 shares during the period. Hohimer Wealth Management LLC purchased a new stake in shares of PureCycle Technologies during the third quarter valued at approximately $6,452,000. Royal Bank of Canada raised its stake in shares of PureCycle Technologies by 62.4% during the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after purchasing an additional 400,520 shares during the period. Finally, SWS Partners raised its stake in shares of PureCycle Technologies by 31.9% during the fourth quarter. SWS Partners now owns 988,463 shares of the company’s stock valued at $8,491,000 after purchasing an additional 238,947 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Up 1.6%

Shares of NASDAQ:PCT opened at $12.59 on Friday. 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 company has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $8.50. The firm has a market cap of $2.28 billion, a PE ratio of -8.56 and a beta of 2.31. PureCycle Technologies, Inc. has a 12-month low of $4.93 and a 12-month high of $17.37.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The business had revenue of $4.13 million during the quarter, compared to analyst estimates of $3.83 million. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. On average, equities research analysts anticipate that PureCycle Technologies, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Cantor Fitzgerald dropped their price objective on shares of PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, TD Cowen dropped their price objective on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PureCycle Technologies currently has an average rating of “Moderate Buy” and an average target price of $12.00.

PureCycle Technologies Company Profile

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.