OneDigital Investment Advisors LLC Sells 2,572 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

OneDigital Investment Advisors LLC cut its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,887 shares of the company’s stock after selling 2,572 shares during the period. OneDigital Investment Advisors LLC owned 0.06% of PureCycle Technologies worth $863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JT Stratford LLC lifted its position in PureCycle Technologies by 54.0% during the first quarter. JT Stratford LLC now owns 44,803 shares of the company’s stock valued at $279,000 after purchasing an additional 15,708 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in PureCycle Technologies in the 1st quarter worth approximately $255,000. Price T Rowe Associates Inc. MD increased its holdings in PureCycle Technologies by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 86,154 shares of the company’s stock worth $536,000 after acquiring an additional 4,258 shares in the last quarter. Bayesian Capital Management LP bought a new stake in PureCycle Technologies during the 1st quarter worth approximately $98,000. Finally, Tidal Investments LLC purchased a new position in PureCycle Technologies during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a research note on Tuesday. Stifel Nicolaus raised their price target on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum boosted their price objective on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, TD Cowen increased their target price on PureCycle Technologies from $7.50 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.60.

PureCycle Technologies Stock Up 0.6 %

Shares of PCT stock opened at $11.67 on Wednesday. The company’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $7.51. PureCycle Technologies, Inc. has a 52 week low of $2.38 and a 52 week high of $15.58. The stock has a market cap of $1.93 billion, a P/E ratio of -7.78 and a beta of 1.56. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.06.

Insider Transactions at PureCycle Technologies

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.09% of the company’s stock.

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.