Ethos Financial Group LLC Takes Position in PureCycle Technologies, Inc. (NASDAQ:PCT)

Ethos Financial Group LLC purchased a new stake in shares of PureCycle Technologies, Inc. (NASDAQ:PCT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 286,972 shares of the company’s stock, valued at approximately $2,941,000.

Several other hedge funds have also modified their holdings of PCT. Jones Financial Companies Lllp boosted its stake in PureCycle Technologies by 286.0% in 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 during the last quarter. US Bancorp DE boosted its stake in 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 last quarter. Keudell Morrison Wealth Management bought a new position in PureCycle Technologies in the fourth quarter valued at approximately $117,000. Proficio Capital Partners LLC bought a new position in PureCycle Technologies in the fourth quarter valued at approximately $127,000. Finally, Truist Financial Corp bought a new position in PureCycle Technologies in the fourth quarter valued at approximately $145,000. 63.01% of the stock is owned by institutional investors.

PureCycle Technologies Trading Up 1.9 %

Shares of NASDAQ:PCT opened at $9.29 on Thursday. PureCycle Technologies, Inc. has a 12 month low of $4.50 and a 12 month high of $15.58. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. The company’s fifty day simple moving average is $9.64 and its 200 day simple moving average is $9.99. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -6.19 and a beta of 1.58.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). As a group, research analysts forecast that PureCycle Technologies, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc purchased 619,925 shares of the stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at approximately $274,665,246.44. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCT. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price target on shares of PureCycle Technologies in a research report on Tuesday, November 19th. Stifel Nicolaus lifted their price target on shares of PureCycle Technologies from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen lifted their price target on shares of PureCycle Technologies from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th.

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.