31,558 Shares in PureCycle Technologies, Inc. (NASDAQ:PCT) Purchased by Quest Partners LLC

Quest Partners LLC purchased a new position in PureCycle Technologies, Inc. (NASDAQ:PCT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,558 shares of the company’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in PureCycle Technologies in the second quarter worth about $69,000. Tidal Investments LLC purchased a new position in PureCycle Technologies in the first quarter worth about $70,000. Bayesian Capital Management LP purchased a new position in PureCycle Technologies in the first quarter worth about $98,000. Park Edge Advisors LLC purchased a new position in PureCycle Technologies in the third quarter worth about $100,000. Finally, Hsbc Holdings PLC grew its position in PureCycle Technologies by 11.4% in the second quarter. Hsbc Holdings PLC now owns 18,619 shares of the company’s stock worth $111,000 after acquiring an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

PCT has been the subject of several recent analyst reports. Craig Hallum boosted their target price on PureCycle Technologies from $4.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Finally, TD Cowen boosted their target price on PureCycle Technologies from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.60.

Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of PureCycle Technologies stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.09% of the company’s stock.

PureCycle Technologies Stock Performance

PureCycle Technologies stock opened at $12.92 on Tuesday. The company has a 50 day moving average price of $10.97 and a 200-day moving average price of $7.72. 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, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $15.58. The company has a market capitalization of $2.24 billion, a PE ratio of -8.61 and a beta of 1.56.

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.