Goodman Advisory Group LLC Buys Shares of 13,250 PureCycle Technologies, Inc. (NYSE:PCT)

Goodman Advisory Group LLC bought a new stake in PureCycle Technologies, Inc. (NYSE:PCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,250 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Effects LLC raised its position in PureCycle Technologies by 57.4% in the fourth quarter. Wealth Effects LLC now owns 87,050 shares of the company’s stock valued at $353,000 after purchasing an additional 31,750 shares during the period. Cerity Partners LLC purchased a new stake in shares of PureCycle Technologies in the 4th quarter valued at $182,000. Stratos Wealth Advisors LLC purchased a new stake in shares of PureCycle Technologies in the 4th quarter valued at $53,000. Venture Visionary Partners LLC raised its holdings in shares of PureCycle Technologies by 4.8% in the 4th quarter. Venture Visionary Partners LLC now owns 68,306 shares of the company’s stock valued at $277,000 after buying an additional 3,145 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of PureCycle Technologies by 16.3% in the 4th quarter. Arizona State Retirement System now owns 29,798 shares of the company’s stock valued at $121,000 after buying an additional 4,167 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

PCT has been the topic of several research analyst reports. Roth Mkm downgraded PureCycle Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Tuesday, December 19th. Craig Hallum downgraded PureCycle Technologies from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Wednesday, January 3rd. Finally, Roth Capital downgraded PureCycle Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.

PureCycle Technologies Stock Down 1.7 %

Shares of NYSE:PCT traded down $0.09 on Wednesday, hitting $5.21. 1,643,869 shares of the company’s stock were exchanged, compared to its average volume of 1,635,338. The firm’s 50-day moving average is $5.56 and its 200 day moving average is $4.62. The company has a market capitalization of $856.73 million, a PE ratio of -7.89 and a beta of 1.51. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $11.89. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.92 and a current ratio of 2.92.

PureCycle Technologies (NYSE:PCT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.08. Sell-side analysts predict that PureCycle Technologies, Inc. will post -0.53 EPS for the current year.

Insider Activity at PureCycle Technologies

In other news, Director Fernando Musa bought 18,303 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $5.46 per share, with a total value of $99,934.38. Following the transaction, the director now directly owns 68,413 shares in the company, valued at $373,534.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.09% of the company’s stock.

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.