Fourpath Capital Management LLC Has $236,000 Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Fourpath Capital Management LLC lifted its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 49.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,061 shares of the company’s stock after purchasing an additional 7,625 shares during the period. Fourpath Capital Management LLC’s holdings in PureCycle Technologies were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sylebra Capital LLC boosted its stake in shares of PureCycle Technologies by 14.6% in the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares during the last quarter. Harvard Management Co. Inc. boosted its stake in PureCycle Technologies by 249.7% in the third quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after acquiring an additional 1,783,885 shares during the last quarter. Simplify Asset Management Inc. grew its holdings in PureCycle Technologies by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,772,056 shares of the company’s stock worth $16,835,000 after acquiring an additional 713,664 shares during the period. Appian Way Asset Management LP raised its position in shares of PureCycle Technologies by 12.9% during the 3rd quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after acquiring an additional 650,426 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its stake in shares of PureCycle Technologies by 767.7% in the 4th quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after purchasing an additional 272,527 shares during the period. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

PCT stock opened at $8.49 on Wednesday. PureCycle Technologies, Inc. has a 1-year low of $3.92 and a 1-year high of $15.58. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.47 billion, a PE ratio of -5.66 and a beta of 1.58. The business’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $9.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a report on Tuesday, November 19th. Stifel Nicolaus increased their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen lifted their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th.

About PureCycle Technologies

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.