State Street Corp Purchases 21,706 Shares of PureCycle Technologies, Inc. (NASDAQ:PCT)

State Street Corp boosted its position in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,809,178 shares of the company’s stock after acquiring an additional 21,706 shares during the quarter. State Street Corp’s holdings in PureCycle Technologies were worth $26,687,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PCT. Algert Global LLC purchased a new position in PureCycle Technologies during the second quarter valued at $69,000. Park Edge Advisors LLC bought a new position in shares of PureCycle Technologies during the 3rd quarter valued at approximately $100,000. Hsbc Holdings PLC grew its stake in shares of PureCycle Technologies by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock valued at $111,000 after acquiring an additional 1,910 shares during the period. Fortis Group Advisors LLC increased its holdings in PureCycle Technologies by 12.5% in the 3rd quarter. Fortis Group Advisors LLC now owns 12,359 shares of the company’s stock worth $117,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Prospera Private Wealth LLC raised its stake in PureCycle Technologies by 35.9% during the 3rd quarter. Prospera Private Wealth LLC now owns 15,436 shares of the company’s stock worth $147,000 after acquiring an additional 4,080 shares during the period. Institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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, November 19th. TD Cowen increased their price target on PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, 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.

PureCycle Technologies Price Performance

PCT stock opened at $10.85 on Monday. The company has a market capitalization of $1.88 billion, a PE ratio of -7.23 and a beta of 1.53. The company’s fifty day moving average price is $12.20 and its 200-day moving average price is $8.65. PureCycle Technologies, Inc. has a one year low of $2.38 and a one year high of $15.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.63 and a current ratio of 1.74.

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.