PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Purchased by Flagship Private Wealth LLC

Flagship Private Wealth LLC grew its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,781 shares of the company’s stock after acquiring an additional 4,100 shares during the period. Flagship Private Wealth LLC’s holdings in PureCycle Technologies were worth $305,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Sylebra Capital LLC grew its holdings in shares of PureCycle Technologies by 14.6% during the 3rd quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock worth $317,848,000 after purchasing an additional 4,264,393 shares during the period. Appian Way Asset Management LP lifted its position in PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock valued at $53,905,000 after buying an additional 650,426 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in PureCycle Technologies by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 3,339,952 shares of the company’s stock worth $31,730,000 after buying an additional 44,571 shares during the period. Geode Capital Management LLC increased its position in shares of PureCycle Technologies by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,124,445 shares of the company’s stock worth $29,688,000 after acquiring an additional 92,469 shares in the last quarter. Finally, State Street Corp raised its stake in shares of PureCycle Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 2,809,178 shares of the company’s stock valued at $26,687,000 after acquiring an additional 21,706 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Price Performance

PCT opened at $9.77 on Friday. PureCycle Technologies, Inc. has a twelve month low of $3.13 and a twelve month high of $15.58. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -6.51 and a beta of 1.59. 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 company has a fifty day simple moving average of $11.21 and a 200 day simple moving average of $9.41.

Analyst Ratings Changes

A number of analysts recently weighed in on PCT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. TD Cowen upped their target price on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their target price on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

PureCycle Technologies Company 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.