DRW Securities LLC Has $494,000 Stock Holdings in PureCycle Technologies, Inc. (NASDAQ:PCT)

DRW Securities LLC raised its stake in PureCycle Technologies, Inc. (NASDAQ:PCT) by 100.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,000 shares of the company’s stock after buying an additional 26,000 shares during the period. DRW Securities LLC’s holdings in PureCycle Technologies were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of PureCycle Technologies during the second quarter worth about $69,000. Tidal Investments LLC bought a new stake in PureCycle Technologies during the 1st quarter worth approximately $70,000. Bayesian Capital Management LP acquired a new position in PureCycle Technologies in the 1st quarter valued at approximately $98,000. Park Edge Advisors LLC bought a new position in shares of PureCycle Technologies during the third quarter valued at $100,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of PureCycle Technologies by 11.4% during the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after purchasing an additional 1,910 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at PureCycle Technologies

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.09% of the company’s stock.

PureCycle Technologies Stock Performance

NASDAQ PCT opened at $13.28 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63. The company has a fifty day simple moving average of $10.97 and a 200 day simple moving average of $7.72. PureCycle Technologies, Inc. has a 12-month low of $2.38 and a 12-month high of $15.58.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCT. TD Cowen increased their price objective on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Craig Hallum upped their target price on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus raised their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.60.

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.