Marex Group plc Acquires Shares of 57,298 PureCycle Technologies, Inc. $PCT

Marex Group plc bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 57,298 shares of the company’s stock, valued at approximately $785,000.

Several other large investors have also recently modified their holdings of PCT. Nisa Investment Advisors LLC lifted its stake in shares of PureCycle Technologies by 278.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,571 shares of the company’s stock valued at $35,000 after buying an additional 1,891 shares in the last quarter. Bluefin Capital Management LLC bought a new stake in PureCycle Technologies during the 2nd quarter valued at $137,000. Patriot Financial Group Insurance Agency LLC bought a new stake in PureCycle Technologies during the 2nd quarter valued at $140,000. Evelyn Partners Investment Management Services Ltd lifted its position in shares of PureCycle Technologies by 225.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 11,198 shares of the company’s stock worth $143,000 after acquiring an additional 7,758 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of PureCycle Technologies by 16.5% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 12,272 shares of the company’s stock worth $168,000 after acquiring an additional 1,736 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of PCT opened at $8.78 on Monday. PureCycle Technologies, Inc. has a 12-month low of $5.40 and a 12-month high of $17.37. The company has a current ratio of 2.24, a quick ratio of 2.15 and a debt-to-equity ratio of 5.21. The company has a market cap of $1.58 billion, a PE ratio of -6.01 and a beta of 2.11. The stock has a 50-day moving average price of $10.89 and a 200-day moving average price of $12.49.

PureCycle Technologies (NASDAQ:PCT) last announced its 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 company had revenue of $2.43 million for the quarter, compared to analyst estimates of $6.04 million. As a group, equities analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCT. Weiss Ratings reiterated a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Wednesday, October 8th. Northland Capmk upgraded PureCycle Technologies to a “strong-buy” rating in a research report on Tuesday, August 26th. TD Cowen reissued a “hold” rating and issued a $9.00 price target (down from $16.00) on shares of PureCycle Technologies in a report on Monday, November 24th. Northland Securities started coverage on shares of PureCycle Technologies in a research note on Wednesday, August 27th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Seaport Res Ptn raised shares of PureCycle Technologies to a “strong-buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given 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.com, PureCycle Technologies currently has an average rating of “Moderate Buy” and an average price target of $13.67.

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.