PureCycle Technologies, Inc. (NASDAQ:PCT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.60.

Several equities research analysts recently issued reports on PCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of PureCycle Technologies in a report on Tuesday. Craig Hallum boosted their price target on shares of PureCycle Technologies from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. TD Cowen raised their price objective on shares of PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

PureCycle Technologies Stock Down 2.5 %

PureCycle Technologies stock opened at $11.69 on Friday. The company has a market capitalization of $2.03 billion, a PE ratio of -7.79 and a beta of 1.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.54 and a current ratio of 1.74. PureCycle Technologies has a fifty-two week low of $2.38 and a fifty-two week high of $15.58. The firm has a 50 day moving average price of $10.83 and a 200 day moving average price of $7.57.

Insider Transactions at PureCycle Technologies

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of PureCycle Technologies by 0.5% in the 3rd quarter. FMR LLC now owns 230,755 shares of the company’s stock valued at $2,192,000 after buying an additional 1,083 shares in the last quarter. Fortis Group Advisors LLC grew its holdings in shares of PureCycle Technologies by 12.5% during the third quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after purchasing an additional 1,376 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of PureCycle Technologies by 7.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 26,846 shares of the company’s stock worth $159,000 after purchasing an additional 1,850 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of PureCycle Technologies by 11.4% in the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of PureCycle Technologies by 6.7% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,951 shares of the company’s stock valued at $192,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.