PureCycle Technologies, Inc. (NASDAQ:PCT) Major Shareholder Acquires $4,996,595.50 in Stock

PureCycle Technologies, Inc. (NASDAQ:PCT) major shareholder Sylebra Capital Llc bought 619,925 shares of PureCycle Technologies stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the purchase, the insider now owns 34,077,574 shares in the company, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

PureCycle Technologies Stock Performance

Shares of PCT opened at $8.81 on Thursday. The company’s 50 day moving average price is $10.23 and its 200 day moving average price is $9.65. 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 52 week low of $4.25 and a 52 week high of $15.58. The company has a market capitalization of $1.53 billion, a PE ratio of -5.87 and a beta of 1.58.

Institutional Trading of PureCycle Technologies

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in PureCycle Technologies by 286.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,092 shares of the company’s stock valued at $32,000 after acquiring an additional 2,291 shares in the last quarter. US Bancorp DE boosted its position in shares of PureCycle Technologies by 141.5% in the fourth quarter. US Bancorp DE now owns 3,446 shares of the company’s stock valued at $35,000 after acquiring an additional 2,019 shares during the period. Brown Brothers Harriman & Co. bought a new position in PureCycle Technologies during the fourth quarter worth $80,000. Park Edge Advisors LLC acquired a new position in PureCycle Technologies during the 3rd quarter valued at $100,000. Finally, Fortis Group Advisors LLC boosted 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 valued at $117,000 after purchasing an additional 1,376 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PCT shares. 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 report on Wednesday, November 20th. Stifel Nicolaus upped their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of PureCycle Technologies in a report on Tuesday, November 19th.

About PureCycle Technologies

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.