Stratos Wealth Partners LTD. Grows Stock Holdings in PureCycle Technologies, Inc. (NYSE:PCT)

Posted by Defense World Staff on Jul 23rd, 2023

Stratos Wealth Partners LTD. boosted its holdings in PureCycle Technologies, Inc. (NYSE:PCT – Free Report) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,179 shares of the company’s stock after buying an additional 6,414 shares during the period. Stratos Wealth Partners LTD.’s holdings in PureCycle Technologies were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. WESPAC Advisors LLC purchased a new position in shares of PureCycle Technologies during the 1st quarter valued at $198,000. Sequoia Financial Advisors LLC purchased a new position in shares of PureCycle Technologies during the 1st quarter valued at $76,000. Deane Retirement Strategies Inc. grew its position in shares of PureCycle Technologies by 3.0% during the 1st quarter. Deane Retirement Strategies Inc. now owns 202,982 shares of the company’s stock valued at $1,421,000 after purchasing an additional 5,981 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of PureCycle Technologies during the 1st quarter valued at $105,000. Finally, Bar Harbor Wealth Management purchased a new position in shares of PureCycle Technologies during the 1st quarter valued at $84,000. 61.35% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Stock Performance

NYSE PCT opened at $10.70 on Friday. PureCycle Technologies, Inc. has a 52-week low of $4.44 and a 52-week high of $11.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $1.75 billion, a P/E ratio of -20.98 and a beta of 1.22. The company has a fifty day moving average of $8.86 and a 200-day moving average of $7.51.

PureCycle Technologies (NYSE:PCT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). As a group, equities research analysts predict that PureCycle Technologies, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer boosted their price target on shares of PureCycle Technologies from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, July 14th.

PureCycle Technologies Profile

(Free Report)

PureCycle Technologies, Inc produces recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled resin. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock to transform it into virgin-like resin. PureCycle Technologies, Inc was founded in 2015 and is headquartered in Orlando, Florida.