11,455 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management purchased a new position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,455 shares of the company’s stock, valued at approximately $117,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new position in PureCycle Technologies during the fourth quarter worth about $695,000. Drive Wealth Management LLC boosted its holdings in PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock worth $3,157,000 after purchasing an additional 272,527 shares during the last quarter. Flagship Private Wealth LLC boosted its holdings in PureCycle Technologies by 16.0% during the fourth quarter. Flagship Private Wealth LLC now owns 29,781 shares of the company’s stock worth $305,000 after purchasing an additional 4,100 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in PureCycle Technologies during the fourth quarter worth about $193,000. Finally, SG Americas Securities LLC boosted its holdings in PureCycle Technologies by 22.6% during the fourth quarter. SG Americas Securities LLC now owns 54,774 shares of the company’s stock worth $561,000 after purchasing an additional 10,094 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

PureCycle Technologies Trading Down 1.6 %

NASDAQ PCT opened at $9.31 on Friday. The company’s 50 day moving average is $10.98 and its 200-day moving average is $9.52. PureCycle Technologies, Inc. has a 12-month low of $3.75 and a 12-month high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

Wall Street Analyst Weigh In

PCT has been the topic of several research reports. 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 report on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research report on Tuesday, November 19th.

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.