Simplify Asset Management Inc. Has $11.90 Million Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

Simplify Asset Management Inc. trimmed its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 34.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,161,208 shares of the company’s stock after selling 610,848 shares during the period. PureCycle Technologies accounts for about 0.6% of Simplify Asset Management Inc.’s portfolio, making the stock its 11th biggest position. Simplify Asset Management Inc.’s holdings in PureCycle Technologies were worth $11,902,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of PureCycle Technologies during the fourth quarter worth $251,000. Sei Investments Co. bought a new position in PureCycle Technologies during the 4th quarter worth about $126,000. American Century Companies Inc. raised its stake in shares of PureCycle Technologies by 15.7% in the 4th quarter. American Century Companies Inc. now owns 305,529 shares of the company’s stock valued at $3,132,000 after purchasing an additional 41,520 shares during the period. Virtu Financial LLC bought a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $289,000. Finally, Cibc World Markets Corp bought a new stake in shares of PureCycle Technologies in the fourth quarter valued at about $118,000. 63.01% of the stock is currently owned by institutional investors.

Insider Activity at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now directly owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 11.44% of the stock is owned by insiders.

PureCycle Technologies Stock Up 1.8 %

NASDAQ:PCT opened at $7.77 on Friday. The stock has a 50-day simple moving average of $9.04 and a 200 day simple moving average of $10.15. PureCycle Technologies, Inc. has a 52-week low of $4.50 and a 52-week high of $15.58. The company has a market cap of $1.39 billion, a PE ratio of -5.18 and a beta of 1.55. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.32). On average, sell-side analysts expect that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

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.