SWS Partners Purchases 28,397 Shares of PureCycle Technologies, Inc. (NYSE:PCT)

SWS Partners increased its position in PureCycle Technologies, Inc. (NYSE:PCT) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 895,545 shares of the company’s stock after buying an additional 28,397 shares during the period. PureCycle Technologies accounts for 1.6% of SWS Partners’ portfolio, making the stock its 12th largest holding. SWS Partners’ holdings in PureCycle Technologies were worth $5,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. lifted its holdings in PureCycle Technologies by 11.0% in the 4th quarter. Sovereign Financial Group Inc. now owns 26,700 shares of the company’s stock worth $108,000 after purchasing an additional 2,652 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of PureCycle Technologies by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,004 shares of the company’s stock worth $69,000 after buying an additional 3,128 shares during the last quarter. Nwam LLC boosted its holdings in shares of PureCycle Technologies by 20.6% during the 1st quarter. Nwam LLC now owns 18,838 shares of the company’s stock worth $117,000 after buying an additional 3,217 shares during the period. Arizona State Retirement System grew its stake in 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in PureCycle Technologies by 12.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,521 shares of the company’s stock worth $222,000 after acquiring an additional 4,191 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Price Performance

Shares of PureCycle Technologies stock remained flat at $5.84 during trading on Thursday. 1,857,046 shares of the stock traded hands, compared to its average volume of 2,186,363. The firm has a market cap of $961.45 million, a P/E ratio of -5.73 and a beta of 1.62. The business’s fifty day simple moving average is $6.13 and its two-hundred day simple moving average is $5.59. PureCycle Technologies, Inc. has a 1-year low of $2.38 and a 1-year high of $10.53. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on PureCycle Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday. Craig Hallum upped their price target on PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, TD Cowen increased their price objective on PureCycle Technologies from $7.50 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.75.

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.