Ethos Financial Group LLC Decreases Stock Position in PureCycle Technologies, Inc. $PCT

Ethos Financial Group LLC cut its stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 31.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,588 shares of the company’s stock after selling 181,420 shares during the quarter. Ethos Financial Group LLC owned 0.22% of PureCycle Technologies worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Anthracite Investment Company Inc. bought a new stake in PureCycle Technologies during the 2nd quarter valued at $2,932,000. Forum Financial Management LP increased its position in shares of PureCycle Technologies by 66.7% in the second quarter. Forum Financial Management LP now owns 125,000 shares of the company’s stock valued at $1,712,000 after acquiring an additional 50,000 shares during the period. Sanders Morris Harris LLC bought a new position in shares of PureCycle Technologies during the third quarter valued at about $1,831,000. SWS Partners boosted its holdings in shares of PureCycle Technologies by 2.8% during the first quarter. SWS Partners now owns 757,279 shares of the company’s stock worth $5,240,000 after purchasing an additional 20,547 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of PureCycle Technologies by 218.2% during the second quarter. Fortitude Advisory Group L.L.C. now owns 70,000 shares of the company’s stock worth $959,000 after purchasing an additional 48,000 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Down 4.7%

PCT stock opened at $9.02 on Thursday. PureCycle Technologies, Inc. has a fifty-two week low of $5.40 and a fifty-two week high of $17.37. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -6.18 and a beta of 2.03. The business’s 50 day moving average price is $9.12 and its two-hundred day moving average price is $12.18. The company has a debt-to-equity ratio of 5.21, a quick ratio of 2.15 and a current ratio of 2.24.

PureCycle Technologies (NASDAQ:PCT) last released its earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.19). The firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $6.04 million. As a group, analysts forecast that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCT has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “hold” rating and set a $9.00 price target (down previously from $16.00) on shares of PureCycle Technologies in a research report on Monday, November 24th. Seaport Res Ptn raised PureCycle Technologies to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PureCycle Technologies in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

PureCycle Technologies Profile

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.