Clough Capital Partners L P Makes New Investment in PureCycle Technologies, Inc. $PCT

Clough Capital Partners L P bought a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 102,974 shares of the company’s stock, valued at approximately $885,000.

Several other hedge funds have also recently bought and sold shares of the business. Balyasny Asset Management L.P. acquired a new position in PureCycle Technologies during the fourth quarter worth $1,167,000. Guggenheim Capital LLC increased its position in PureCycle Technologies by 25.0% during the fourth quarter. Guggenheim Capital LLC now owns 14,853 shares of the company’s stock worth $128,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC grew its position in shares of PureCycle Technologies by 23.8% in the fourth quarter. AQR Capital Management LLC now owns 39,289 shares of the company’s stock valued at $337,000 after purchasing an additional 7,560 shares during the last quarter. Equitable Holdings Inc. acquired a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $820,000. Finally, Evercore Wealth Management LLC grew its position in shares of PureCycle Technologies by 100.0% in the fourth quarter. Evercore Wealth Management LLC now owns 100,000 shares of the company’s stock valued at $859,000 after purchasing an additional 50,000 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

PureCycle Technologies Trading Up 5.3%

Shares of NASDAQ:PCT opened at $8.62 on Thursday. The company has a market cap of $1.56 billion, a P/E ratio of -5.86 and a beta of 2.48. The stock’s 50-day moving average is $9.43 and its 200-day moving average is $8.75. PureCycle Technologies, Inc. has a 52-week low of $4.93 and a 52-week high of $17.37. The company has a debt-to-equity ratio of 47.59, a quick ratio of 1.57 and a current ratio of 1.71.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative net margin of 2,062.36% and a negative return on equity of 393.01%. The business had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $3.83 million. Equities research analysts predict that PureCycle Technologies, Inc. will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PCT shares. Wall Street Zen downgraded PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Cantor Fitzgerald lowered their price target on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Alembic Global Advisors set a $16.00 price target on PureCycle Technologies in a research report on Tuesday. TD Cowen lowered their price target on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, Northland Securities set a $13.00 price target on PureCycle Technologies in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

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.